The National Farmers Union, R-CALF USA, and four fed cattle producers who filed a class-action antitrust lawsuit against JBS, Tyson, Cargill, and National Beef filed a motion looking for preliminary approval of a settlement. The motion was filed in a U.S. District Court for Minnesota and seeks approval of a proposed $83.5 million class action settlement with the defendants. Through their representation, the plaintiffs agreed to the proposed settlement, which includes an $83.5 million cash payment and certain non-monetary considerations. The settlement is not an admission of liability by JBS, which continues to deny any wrongdoing. “We are pleased to have reached a significant milestone in the case with the JBS settlement,” says NFU President Rob Larew. “We look forward to prosecuting our claims against the remaining defendants, Tyson, Cargill, and National Beef.” He also says the National Farmer’s Union is continuing its work to restore pricing transparency and competitiveness.
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