Smithfield Foods says it has agreed to pay $83 million dollars to settle a lawsuit over pork price-fixing claims. The lawsuit had accused several companies of conspiring to limit supply in the pork market by inflating prices and profits.The settlement resolves antitrust claims by direct purchasers, such as Maplevale Farms.
Smithfield’s chief administrative officer says the company denied liability in agreeing to settle, and believes its conduct was always lawful. The settlement still requires the approval of a judge with the U.S. District Court in Minneapolis.
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Smithfield Foods to Pay $83 Million to Settle Pork Price-Fixing Claims
