WICHITA, Kan. (KWCH) – Consumers who purchased beef products between August 2014 and December 2019 may be eligible for cash payments from an $87.5 million settlement in an antitrust class action lawsuit.
The lawsuit accuses several major beef processors, including JBS, Cargill, National Beef, and Tyson Foods, of conspiring to limit beef supply and artificially increase prices.
Two defendants have reached settlements to resolve claims against them. Tyson Foods Inc. and Tyson Fresh Meats Inc. agreed to pay $55 million, while Cargill Inc. and Cargill Meat Solutions Corporation agreed to pay $32.5 million.
Settlement details
The plaintiffs claim the companies entered into a market allocation agreement and stopped competing against each other for market share. The alleged purpose was to increase profit margins and raise prices consumers paid for beef…