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National Farmers Union and Ranch Groups Secure $83.5 Million Settlement with JBS in Antitrust Case

By  |  February 3, 2025
National Farmers Union and Ranch Groups Secure $83.5 Million Settlement with JBS in Antitrust Case

The National Farmers Union (NFU), along with ranch advocacy group R-CALF USA and four fed cattle producers, has filed a motion with the Federal District Court for the District of Minnesota seeking preliminary approval of an $83.5 million class-action settlement with JBS, according to a statement. This settlement stems from an antitrust lawsuit originally filed in April 2019 against JBS, Tyson, Cargill, and National Beef, alleging price-fixing in the cattle market.

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    According to a statement from the plaintiffs’ legal representatives, Scott+Scott Attorneys at Law LLP, Cafferty Clobes Meriwether & Sprengel LLP, and Robins Kaplan LLP, the proposed agreement includes not only the substantial cash payment but also non-monetary provisions. These provisions include access to certain documents and assistance in future proceedings against the remaining defendants: Tyson, Cargill, and National Beef. Importantly, JBS has not admitted to any liability and continues to deny any wrongdoing.

    Should the court grant preliminary approval, notices will be issued to settlement class members detailing the agreement and outlining how they can submit claims for their portion of the settlement. The settlement classes primarily include individuals or entities within the U.S. who sold fed cattle directly to the defendant companies between June 1, 2015, and February 29, 2020, excluding those involved in cost-plus or profit-sharing agreements. Additionally, those who held long positions in live cattle futures on the CME before June 1, 2015, and later liquidated them before November 1, 2016, may also qualify for compensation.

    More information regarding eligibility and claim submissions will soon be available on the settlement website: www.cattleantitrustsettlement.com.

    NFU President Rob Larew expressed optimism about the settlement, stating, “We are pleased to have reached a significant milestone in the case with the JBS settlement. We look forward to prosecuting our claims against the remaining Defendants, Tyson, Cargill and National Beef.” He further emphasized NFU’s ongoing efforts to ensure price transparency and competitiveness for family farmers and ranchers.

    Source: Northern AG