February 6, 2008

Ridley Inc. agrees to settle US$6 million in mad cow lawsuit

Feed maker Ridley Inc. will pay US$6 million to Canada's cattle producers to end its exposure to class actions over the arrival of mad cow disease. 

The company said Tuesday that it will pay US$6 million into a plaintiffs' settlement trust fund to settle claims against it in four coordinated lawsuits filed by ranchers in Alberta, Ontario, Quebec and Saskatchewan. 

Ridley CEO Steve VanRoekel, said in a press release that the company makes no admission of liability or wrongdoing in the matter and will continue to contest any allegation we were responsible for the plaintiffs' damages.