(Reuters) - McDonald’s has sued JBS, Tyson Foods and other leading meat processing and packing companies for allegedly conspiring for years to limit beef supplies, boosting their profits while causing the fast food giant to pay artificially higher prices. McDonald’s said in a lawsuit filed on Friday in Brooklyn federal court that the meatpackers, also including Cargill and National […] Read more
Tag Archives price fixing
Price fixing case settled
(Reuters) — Smithfield Foods has agreed to pay US$75 million to settle a lawsuit by consumers who accused the meat producer and several competitors of conspiring to inflate prices in the $20 billion-a-year U.S. pork market by limiting supply. A preliminary settlement in the antitrust case was filed Sept. 27 with the federal court in […] Read more
U.S. government strikes out on food price fixing prosecution
Contrary to folklore, three times is rarely a charm. The number three, in fact, often carries woe: “three strikes and you’re out,” for example, or “bad news usually comes in threes.” U.S. Department of Justice prosecutors rediscovered these portentous axioms July 7 when, for the third time in less than a year, a jury in […] Read more
