Tyson Foods agreed to pay $85 million to settle a lawsuit by consumers who accused the largest U.S. meat company of conspiring with rivals to inflate pork prices by limiting supply in the $20 billion U.S. market.
The preliminary class action settlement disclosed on Wednesday is the largest in more than seven years of antitrust litigation by the consumers against pork producers, surpassing Smithfield Foods’ $75 million settlement in 2022.
It would boost consumers’ overall recovery to $208 million, including settlements with Brazil’s JBS, Hormel Foods and other defendants.
Tyson, based in Springdale, Arkansas, is the last publicly traded company to settle.
Its settlement requires approval by U.S. District Judge John Tunheim in Minneapolis.
Tyson did not immediately respond to requests for comment. Lawyers for the consumers did not immediately respond to similar requests.
Triumph Foods and data provider Agri Stats remain defendants.
Dozens of supermarket chains including Kroger, restaurant chains including McDonald’s, food producers and food distributors have also sued over pork prices.
Plaintiffs said the alleged conspiracy ran from 2009 to 2018, and was intended to increase the defendants’ profits, as well as prices.
Similar litigation alleging price-fixing of beef, chicken and turkey is pending in Minnesota and Chicago federal courts.
The case is In re Pork Antitrust Litigation, U.S. District Court, District of Minnesota, No. 18-01776.
“Cyber Attack or Data Breach” remains the number one current and future risk, according to survey respondents, as the rapid adoption of digital platforms and AI technologies has expanded the attack surface for threat actors, the Aon report said.
“The scale and complexity of cyber risk today is unlike anything we’ve seen before,” commented Brent Rieth, global cyber leader for Aon. “Our clients are increasingly using AI both defensively and offensively, to enhance resilience and unlock growth. The key is embedding cyber into board-level strategy, investing in quantification and viewing resilience as a competitive differentiator.”
Despite its top risk ranking, only 13% of respondents say they have quantified their cyber exposure, Aon said, noting that the gap between awareness and action is contributing to significant underinsurance, exposing businesses to financial and reputational loss.
“With the global average cost of a data breach reaching a record $4.88 million in 2024, the stakes have never been higher,” said the Aon report, quoting IBM’s “Cost of a Data Breach Report 2025.”
“The reality is that what worked yesterday may not be enough tomorrow,” Aon emhasized. “Sophisticated hackers, AI-driven threats and interconnected systems mean even well-prepared organizations are challenged to keep pace.”