Cargill, Tyson Reach $88 Million Deals in Beef Price-Fixing Suit

Cargill Inc. and Tyson Foods Inc. have agreed to pay a total of $87.5 million to settle claims with consumers that they conspired to fix beef prices by restricting supply.

The indirect purchaser plaintiffs’ motion for preliminary approval of the settlement agreements was filed Monday in the US District Court for the District of Minnesota.

Under the proposed deals, Cargill will pay the indirect consumer purchaser class $32.5 million in monetary relief and Tyson will pay $55 million. The class includes 36 million potential members across the country, subject to “deduplication.”

The consumer IPP suit was first filed in 2019 ...