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The lawsuit names as defendants JBS USA Food Company and JBS USA Food Company Holdings, the American subsidiary of the world-leading producer of beef products based in Brazil. ... Beef has the ...
JBS continues to deny any wrongdoing, but its action could spur other defendants to likewise reach settlements. Beef giant JBS to pay $52.5 million to settle price-fixing lawsuit Skip to main content
Tyson Foods Inc, Cargill Inc, the JBS USA unit of Brazil's JBS SA and National Beef Packing Co were accused of colluding since Jan. 2015 to suppress the price of "fed" cattle, which is cattle ...
On July 12, 2007, JBS purchased Swift & Company in a US$1.5-billion, all-cash deal. The acquisition made the newly consolidated JBS Swift Group the largest beef processor in the world. Prior to the deal, JBS had a market capitalization of US$4.2 billion and sales revenue of $2.1 billion, and operated in 23 plants in Brazil and five in Argentina.
The raids also had a substantial economic impact on Swift, and some business commentators claim that the loss of workers led to the company's 2007 acquisition by JBS. [ 17 ] [ 26 ] A 2009 study reported that Swift was paying better wages because of the need to attract new workers. [ 6 ]
In 2021, JBS, National Beef, Cargill, and Tyson were sued by grocers and wholesalers, which accused the four companies of working together to drive up the price of beef. [53] In 2024, McDonald's Corporation sued Cargill and the same three other companies, along with their subsidiaries, for alleged price fixing. [54]
JBS agreed to a $52.5 million settlement in 2022 in a similar lawsuit having to do with beef, while Tyson paid out $221.5 million back in 2021 in a settlement after being accused of inflating ...
The company JBS S.A. (which represents about a quarter of world's market on beef, [citation needed] and holds the trademarks Friboi, Seara Alimentos (Seara Foods), Swift Armour, and Vigor) and the BRF company (which holds the trademarks Perdigão and Sadia) are accused of having mixed rotten meat treated with chemical components into meat sold ...