JBS Exits Antitrust Case With $53 Million Beef Pricing Accord

JBS SA exited antitrust litigation over an alleged industrywide scheme to fix beef prices after a federal judge in Minneapolis approved the Brazilian meatpacking giant’s $52.5 million class action settlement with wholesalers.

Judge John R. Tunheim signed off on the agreement, which resolves claims that JBS engaged in cartel tactics including coordinated procurement and “slaughter restraint” as part of a conspiracy aimed at widening the “meat margin” between the cost of live cattle and the price of processed beef.

The lawsuit on behalf of direct purchasers—consolidated in 2020 in the US District Court for the District of Minnesota—also targets Tyson ...