December 8, 2003
Pennexx Foods Seeks US$226 Million From Smithfield Over Fraud Issue
Pennexx Foods, a provider of case-ready meat to retail supermarkets in the northeastern U.S., announced last week it is seeking US$226 million in compensatory damages from Smithfield Foods, Inc., accusing the largest US pork producer of fraud, according to a Reuters report.
The accusations stem from Smithfield's foreclosing on Pennexx earlier this year, after which the case-ready meat provider ceased operations. Smithfield says the suit is "completely without merit."