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January 21, 2021
According to Tyson Foods, Inc.’s Securities and Exchange Commission (SEC) report filed on Wednesday, the company has settled antitrust claims against it from each of the three classes of plaintiffs in the Northern District of Illinois broiler chicken antitrust lawsuit.
The SEC filing said that the companies would pay to the classes “an aggregate amount of $221.5 million,” which would be placed on 2021’s first quarter financial statements. It explained that Tyson “does not admit any liability as part of the settlements,” but that it believed settling the cases was in the best interests of the company to avoid the risks and expense of continuing in litigation.
(AP Photo/Carlos Osorio, File)
DETROIT (CN) A federal judge granted preliminary approval Thursday to a massive settlement for Flint residents who were poisoned by contaminated water.
The settlement is currently worth more than $641 million and has been described as the “most complex settlement I’ve ever seen” by U.S. District Judge Judith Levy, a Barack Obama appointee who is overseeing the negotiations.
“Generally, a settlement between an adult plaintiff and a defendant does not require court approval. But because this settlement presents a hybrid structure that includes a class component for unrepresented adults and involves a substantial number of potential claims of Minors preliminary approval of certain aspects of the proposed settlement is both appropriate and necessary,” Levy wrote in an opinion released Thursday morning.