Beef giant JBS to pay $52.5M to settle price-fixing lawsuit

Meatpacking giant JBS has agreed to a $52.5 million settlement in a beef price-fixing lawsuit that some say supports their concerns about how the lack of competition in the industry affects prices.

Colorado-based JBS didn’t admit any wrongdoing as part of the settlement, and company spokeswoman Nikki Richardson said JBS will continue to defend itself against other plaintiffs in the case, but she said JBS decided the settlement was “in the best interest of the company.”

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