Smithfield Foods will pay restaurants and caterers $42 million to settle a lawsuit that accused the giant meat producer of conspiring to inflate pork prices. Smithfield didn't admit any wrongdoing in the deal.
Lawyers began notifying companies affected by this latest settlement Tuesday. Previously, Smithfield settled with a different group of pork buyers for $83 million, and JBS agreed to pay the restaurants and caterers $12.75 million in the pork lawsuit. Earlier this year, JBS also said it would
The lawsuit remains pending against other major pork producers, including Hormel, Tyson Foods, Seaboard Foods and Triumph Foods, and the Agri Stats database company they allegedly used to share confidential information about price, capacity and demand.says that the private information in those reports allowed competitors to compare their profits and helped them control the supply and price of pork.
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