According to press reports, Smithfield Foods has finalized a $42 million settlement with restaurants that alleged collusion to inflate prices charged for pork.
The company denied liability and the settlement was concluded “in the best interest in the company”.
Remaining defendants in the lawsuit include Tyson Foods, Seaboard Foods and Hormel, Inc. AgriStats® that provided a cost benchmarking system used by the defendants is a co-defendant in this and related suits with Plaintiffs alleging indirect collusion from data made available to the subscribers.