JBS has agreed to pay $20M to settle a lawsuit with consumers that accused the meat producer of conspiring with other companies to inflate the price of pork, which can reinforce concerns about how the lack of competition in the industry affects prices.
This photo taken April 18, 2020, shows the JBS USA Pork Plant in Worthington, Minn. JBS has agreed to pay $20 million to settle a lawsuit with consumers that accused the giant meat producer of conspiring with other meat companies to inflate the price of pork, which will only reinforce some of the ongoing concerns about how the lack of competition in the industry affects prices. Officials at the U.S.
Previously, JBS agreed to pay restaurants and caterers $12.75 million as part of a different settlement in this pork lawsuit, and Smithfield Foods agreed to pay two different groups of pork purchasers $83 million and $42 million in two different settlements in the case. The lawsuit accuses the major meat processors, who together control more than 70% of pork production nationwide, of working cooperatively to limit the supply of hogs and inflate prices.
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