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US: Dairy group settles for $46M while maintaining innocence

By  |  March 25, 2013
US: Dairy group settles for $46M while maintaining innocence

A $46 million settlement has been reached between Dairy Farmers of America in a class action suit filed in the US District Court of Vermont. The suit was filed last February arguing that DFA bought cheese from the Cheese Spot market in 2004, which represents less than 2 percent of the supply, according to reports. Price settings in the Cheese Spot market partially control prices of dairy products across the country. Other allegations said DFA bought contracts to increase demand and up prices. While DFA has settled, the association did not admit to any wrongdoing.

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