This is the largest settlement in more than seven years of ongoing antitrust litigation between consumers and U.S. pork producers, surpassing the $75 million settlement reached by Smithfield Foods in 2022. In total, after previous settlements with Brazil’s JBS, Hormel Foods, and other companies, consumer compensation will reach $208 million.
Tyson Foods, headquartered in Springdale, Arkansas, is the last publicly traded company to reach a settlement in this case. The agreement still requires approval from U.S. District Judge John Tunheim in Minneapolis.
Tyson Foods representatives have not yet commented on the settlement, and lawyers representing the plaintiffs have also refrained from making public statements.
Several defendants remain in the case, including Triumph Foods and Agri Stats, a company that provides meat market analytics. Additionally, dozens of major supermarket chains (such as Kroger), restaurant chains (McDonald’s), and food distributors have filed separate lawsuits, claiming damages from the inflated pork prices.
According to plaintiffs, the alleged price-fixing conspiracy lasted from 2009 to 2018, allowing pork producers to boost profits by restricting production and creating an artificial shortage on the U.S. market.
Similar antitrust lawsuits involving beef, chicken, and turkey price-fixing are currently being heard in federal courts in Minnesota and Chicago.