April 19, 2021

JBS to pay US$13 million to settle proposed pork price-fixing class action

Major meatpacker JBS SA will pay nearly US$13 million to settle a proposed pork price-fixing class action by retailers and restaurants, following settlement deals with wholesalers and consumers that amounted to US$45 million, Bloomberg reported.

The settlement was the third reached by the company to escape consumer claims for US$20 million and wholesaler allegations for US$24.5 million. Following these settlements, JBS would have paid out US$57 million.

JBS also pledged to cooperate against other meatpackers such as Tyson Foods, Hormel Foods, Clemens Family, Seaboard, and Smithfield Foods. All these meatpackers control about 80% of the wholesale pork market.

- Bloomberg