Tyson agrees to $82.5M settlement in beef price-fixing lawsuit

Tyson Foods has agreed to pay $82.5 million to settle a class action lawsuit from grocers and distributors that claim the meat processing giant illegally inflated beef prices for years, according to documents filed last week.

The class action lawsuit also accused Cargill and JBS of conspiring together to artificially raise beef prices between 2015 and 2021. JBS paid $52.5 million to settle the case in 2022.

Tyson’s $82.5 million settlement includes payments to claimants, which include regional grocery chain Redner’s Markets. It still needs approval from a judge.

Tyson didn’t immediately respond to Food Dive’s request for comment.

The settlement comes as meat giants settle a litany of lawsuits from consumers, food distributors and grocery stores that pointed to price-fixing in beef, pork and chicken. Tyson previously agreed to pay $55 million to settle consumer lawsuits accusing it of rigging prices in beef.

Last fall, Tyson also settled a consumer lawsuit over price-fixing in pork prices for a record $85 million.