JBS SA’s $53 Million Antitrust Deal Gets Initial Nod From Judge

JBS SA inched closer Thursday to exiting antitrust litigation over its alleged role in an industrywide scheme to fix beef prices, when a federal judge in Minneapolis tentatively signed off on the Brazilian meatpacking giant’s $52.5 million class action settlement with wholesalers.

Judge John R. Tunheim granted preliminary approval to the deal, which resolves claims that JBS engaged in cartel tactics like 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 ...