Tyson Foods Reaches $85 Million Settlement in Largest U.S. Pork Price-Fixing Lawsuit

Tyson Foods has agreed to pay an $85 million preliminary settlement to resolve a class action lawsuit accusing the company of conspiring with rivals to inflate pork prices by limiting supply between 2009 and 2018. This settlement is the largest in over seven years of antitrust litigation against pork producers, surpassing the previous $75 million settlement by Smithfield Foods in 2022, and requires approval from U.S. District Judge John Tunheim. The case involves multiple plaintiffs, including consumer indirect purchasers, and is part of broader litigation alleging price-fixing in the pork industry, with total settlements from various defendants now exceeding $200 million. Tyson Foods is the last publicly traded company to settle in this extensive litigation that also includes other meat producers like JBS USA and Hormel Foods. The lawsuits claim that the alleged conspiracy was designed to boost profits and pork prices in the $20 billion U.S. market. Similar antitrust cases are ongoing involving beef, chicken, and turkey in federal courts.