Companies Agree to Pay $8 Million in Beef Price-Fixing Settlement

A court must approve the deal, which is not an admission of wrongdoing.

Canadians who bought beef after 2015 may get a share of nearly $8 million.

JBS USA and other companies will pay $7.49 million, while National Beef will pay $495,000.

The deal needs court approval and is not an admission of wrongdoing. Hearings are set for September and December.

A lawsuit was filed in 2022, saying companies worked together to fix beef prices in Canada.

Why your summer BBQ meat may cost more.

Law firms from BC, Ontario, and Quebec worked on the settlement.

The settlement does not include beef for restaurants.

Why Canadian beef is expensive and what is being done.

Lawsuits continue against some companies, including Cargill and Tyson.

Canadians who want to opt out must do so by August 10.

This settlement comes after a bread price-fixing case where Canadians got payments.

A similar case about bread price-fixing resulted in a $500 million settlement for Canadians who bought bread between 2001 and 2021.

COPYRIGHT DISCLAIMERS

4English does not own the rights to this content. All rights belong to the owner. 4English only uses this content to help users learn English via the app's features. Contact to request the removal of your content: contact@4englishapp.com.

Practice Listening