JBS Settlement of Pork Price-Fixing Suit Is Worth $24.5 Million

JBS SA will pay $24.5 million and cooperate against other large pork processors like Tyson Foods Inc. and Hormel Foods Corp. to settle part of a proposed class action alleging an industrywide price-fixing scheme, according to a motion seeking preliminary approval from a federal judge in Minneapolis.

The filing comes about a month after the agreement in principle was disclosed in a Nov. 4 court filing, which indicated it would resolve claims brought by “direct purchasers” like wholesalers, but not consumer or retailer claims that are consolidated with them. The deal’s terms weren’t made public at the time.

It was ...