Tyson Foods has agreed to settle in a lawsuit that alleges it and other pork companies conspired to fix the price of pork products to food service providers.
The lawsuit dates back to 2018, and the plaintiffs allege the pork companies conspired to drive up the price of pork between 2014 and 2018.
Tyson offered to settle for $50 million, but did not admit to any wrongdoing, Reuters reported.
Also recently making offers to settle in the lawsuit are Clemens Food Group and Triumph Foods for respective amounts of $10 million and $4 million. They also denied any wrongdoing.
All three offers to settle will be considered by U.S. District Judge John Tunheim in a federal courtroom in Minneapolis, Minnesota.
Tyson Foods has also been subjected to similar lawsuits related to its broiler and turkey businesses, in which the plaintiffs have accused the company of collusion with other processors.
In addition to being a major pork producer, Tyson Foods, headquartered in Springdale, Arkansas, is the largest broiler producer, sixth largest turkey producer and third largest feed producer in the United States. It is also one of the largest beef producers in the United States.
