Source: REUTERS, 2/2/22

JBS SA (JBSS3.SA) agreed to pay $52.5 million to settle litigation accusing meat-packing companies of conspiring to limit supply in the $63 billion-a-year U.S. beef market in order to inflate prices and boost profit. The preliminary settlement by the Brazilian company and its U.S. units with so-called direct purchasers was disclosed on Tuesday, and is the first in nationwide antitrust litigation over beef price-fixing.

For more of this story, click here.