Tyson Foods has reached an agreement to pay $85 million to settle a class-action lawsuit involving allegations of price-fixing in the pork industry. The lawsuit accused the largest U.S. meat producer of conspiring with other companies to inflate pork prices by restricting supply in a market valued at approximately $20 billion.
This preliminary settlement, announced on Wednesday, represents the largest payout in over seven years of antitrust litigation against pork producers, exceeding the $75 million settlement previously reached with Smithfield Foods in 2022. The total recovery for consumers now rises to $208 million, which includes settlements with Brazilian company JBS, Hormel Foods, and other defendants.
Tyson Foods, headquartered in Springdale, Arkansas, is the final publicly traded company to resolve its involvement in the case. The settlement awaits approval from U.S. District Judge John Tunheim in Minneapolis. Tyson did not provide immediate comments regarding the settlement, nor did lawyers representing the consumers.
The lawsuit claims that the alleged conspiracy, which took place from 2009 to 2018, aimed to enhance profits for the defendants, ultimately leading to increased prices for consumers. In addition to Tyson, Triumph Foods and data provider Agri Stats remain as defendants in the case.
Further complicating the landscape, multiple supermarket chains, including Kroger, along with restaurant chains and food distributors, have filed lawsuits related to pork pricing. Similar allegations regarding price-fixing have emerged in regards to beef, chicken, and turkey, with ongoing litigation in federal courts in Minnesota and Chicago.
As the pork price-fixing settlements unfold, they highlight ongoing scrutiny in the meat industry, raising concerns about market practices and consumer impact. The outcome of these legal battles could reshape industry standards and consumer protections moving forward.