Meat-packing giant JBS has agreed to pay $20 million dollars to settle a lawsuit brought by consumers that accused the company of conspiring with others in the industry to inflate pork prices.
A federal judge in Minnesota approved the settlement last week, but awarded nearly $7-million of the total to the plaintiffs’ lawyers, so it’s not clear how much individual consumers might receive.
JBS, based in Brazil, didn’t admit wrongdoing, but the latest in a series of settlements in similar suits covering other meats will only reinforce concerns about how a lack of competition in the packing industry affects prices.
The White House, members of Congress, producers, and trade groups have all raised concerns about the apparent link between competition and prices.