Pork Producers Agree to $117 Million Class Action Settlement

RegulationCommodity
โดย USA TODAY·US·Read original
Summary · why it matters

Several pork producers have agreed to a $117 million class action settlement to resolve claims they conspired to limit the supply of pork and increase prices in the market. The lawsuit alleges the pork processors inflated and stabilized the price and supply of pork through the use of Agri Stats, production restraints and the use of exports. The companies implicated include Agri Stats, Clemens, Hormel, Seaboard, Triumph, Tyson and Smithfield, among others, and the court has not ruled that the defendants did anything wrong, with the companies denying any allegations of wrongdoing. Consumers who indirectly purchased raw pork bacon or fresh or frozen pork made from bellies, loins, shoulders, ribs or pork chops from one of the companies in 23 states and the District of Columbia between June 28, 2014 and June 30, 2018 may be eligible for a cash payment, though the amount each class member will receive is unknown and will depend on factors including the number of timely and valid claim forms filed. Claims must be filed by Oct. 29, 2026.

Impact on stocks 5

Consumer Staples▼ · 4 stocks
Hormel Foods Corporation
HRL
▼ NegativeRegulationrelevance

Hormel is named among pork producers agreeing to a $117M class action settlement over alleged pork supply/price conspiracy.

Seaboard Corporation
SEB
▼ NegativeRegulationrelevance

Seaboard is named among the pork producers implicated in the $117M class action settlement over alleged supply limits and price inflation.

Tyson Foods Inc
TSN
▼ NegativeRegulationrelevance

Tyson is named among the pork producers agreeing to the $117M class action settlement over alleged pork supply/price conspiracy.

Financials▲ · 1 stocks

Off-coverage companies 2

Agri StatsPrivate▼ Negative
Regulationrelevance

Agri Stats is named as a defendant implicated in the $117M class action settlement over alleged pork supply/price conspiracy.

Clemens Food GroupPrivate▼ Negative
Regulationrelevance

Clemens is named among the pork producers implicated in the $117M class action settlement over alleged supply limits and price inflation.

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