Tyson Foods Agrees To Pay $221.5 Mln To Settle Broiler Chicken Price-fixing Claims

(RTTNews) - Tyson Foods Inc. (TSN) agreed to pay $221.5 million to settle complaints over price-fixing allegations.

The settlements amount will reflect in the first quarter 2021 financial statements, the company disclosed in a regulatory filing.

Settlement terms were reached with the putative Direct Purchaser Plaintiff Class, the putative Commercial and Institutional Indirect Purchaser Plaintiff Class and the putative End-User Plaintiff Class in its broiler chicken antitrust litigation, the company said.

The company did not admit any liability as part of the settlements, but it believes that the settlements were in the best interests of the company and its shareholders in order to avoid the uncertainty, risk, expense and distraction of protracted litigation.