Minnesota Farmers Union news: beef giants agree to settlements

As part of their E-news for Thursday, January 22, the Minnesota Farmers Union provided media the following announcement.

Tyson and Cargill have agreed to a $87.5 million settlement in a class action antitrust lawsuit that alleged major beef processors conspired to limit the supply of beef and increase prices in the market. The lawsuit was brought by a group of consumers and in addition to Tyson and Cargill the defendants also include JBS, Swift and National Beef that have not yet agreed to any settlement as of yet. Collectively, these companies control over 85% of beef processing and own more than 70 brands. The Cargill and Tyson settlements enable individuals to file claims if they purchased certain beef products between August 1, 2014, and December 31, 2019 for personal consumption from a grocery store or supermarket. You can find more information on the case and how to submit a claim at overchargedforbeef.com.