JBS to pay $20 million in pork price-fixing settlement

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — JBS has agreed to pay $20 million to settle a lawsuit with consumers that accused the giant meat producer of conspiring with other meat companies to inflate pork prices. Even though the Brazilian company didn’t admit wrongdoing, the latest settlement will only reinforce the concerns that the White House, members of Congress and trade groups have raised about how the lack of competition in the industry affects prices. A federal judge in Minnesota approve this latest settlement last week, but the judge also ruled that nearly $7 million of the settlement will go to the plaintiffs’ lawyers. It’s not yet clear how much individual consumers might receive.