Tyson Foods has agreed to pay $48 million to settle price-fixing allegations made by restaurants and delicatessens as part of a class-action lawsuit.
The company has inked a deal to resolve claims made against it as part of a broader lawsuit alleging several pork companies conspired to fix prices through the data firm Agri Stats.
On top of paying $48 million, Tyson also agreed to authenticate company documents that may be used at trial and to provide the plaintiffs with access to the same potential trial witnesses as other defendants.
However, Tyson "denies all allegations of wrongdoing in the action," according to the agreement, filed in federal court in Minnesota. Instead, it is settling to "avoid the expense, risk, exposure, inconvenience, and distraction of continued litigation."
Tyson becomes the sixth company named in the lawsuit to have settled, bringing total awards to more than $114 million, according to court filings. Previous agreements have been struck with JBS, Smithfield Foods, Seaboard Foods, Hormel Foods and Clemens. Remaining defendants include Agri Stats and Triumph Foods.
The agreement still needs to be approved by Judge John Tunheim of the U.S. District Court in Minnesota.
The class-action case includes all entities that indirectly purchased raw bacon or certain other cuts of uncooked pork for their own use in commercial food preparation between 2014 and 2018.
Representative plaintiffs currently listed in the lawsuit include Sandee's Bakery, Erbert & Gerbert's, Joe's Steak and Leaf, Longhorn's Steakhouse, the Grady Corporation, the Breakfast Joynt, Edley's Restaurant Group, Basil Mt. Pleasant, Basil Charlotte, Farah's Courtyard Deli, and Tri-Ten LLC.
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