Smithfield Foods will pay $42 million to foodservice companies to settle a lawsuit alleging that it conspired to fix the price of pork products.
The settlement, which must be approved by the judge in the case, comes after Smithfield agreed last year to pay an $83 million to resolve similar claims in another case. Smithfield admits no wrongdoing.
The lawsuit, filed by restaurant and catering trade customers of the leading U.S. pork producers, charges that they shared information about pricing through contacts with each other and through Agri Stats, an agricultural news service that they allegedly used to share sensitive price data. The suit remains in effect against Agri Stats and against Hormel Foods, Tyson Foods, Seaboard Foods and Triumph Foods.
