Beef Price Settlement Allows Cash Claims for 2014–2019 Buyers

Eunyoung Lee
By Eunyoung Lee

According to USA Today, Consumers who purchased beef between August 1, 2014, and December 31, 2019, may be eligible for cash compensation under a beef price settlement stemming from a consumer antitrust class action. The settlement follows allegations that major meat companies artificially increased beef prices through price-fixing. Eligible consumers may file claims even without receipts.

Consumers who bought beef at grocery stores between August 2014 and December 2019 may be eligible for cash refunds under the beef price settlement.

The lawsuit alleges that major meat processors, including Tyson Foods and Cargill, restricted competition and raised beef prices. Under the settlement, Tyson Foods and its subsidiary Tyson Fresh Meats agreed to pay a total of $55 million, while Cargill agreed to pay $32.5 million, bringing the total consumer compensation fund to approximately $87.5 million.

Eligible consumers are those who purchased beef at grocery stores or similar retailers during the covered period. Qualifying products include fresh or frozen beef made from major cuts such as chuck, loin, rib, and round. Excluded from compensation are USDA Prime grade beef, organic products, 100% grass-fed beef, Wagyu, kosher or halal products, ground beef, and seasoned, processed, or cooked beef products.

Claims must be submitted by June 30.  No supporting documents are required, but the actual payment amount will depend on the total number of claims filed and the distribution method approved by the court. More information and claim submissions are available at overchargedforbeef.com or by phone at 877-283-8711.

The court is scheduled to hold a fairness hearing on May 12.  in a federal court in Minnesota to decide whether to grant final approval of the settlement. Compensation payments will be issued only after court approval and the completion of any appeals. Experts noted that it could take a significant amount of time before payments are distributed.

Separately, Tyson Foods reached an $85 million settlement last year in a consumer class action related to alleged pork price-fixing. That agreement has led to expectations that oversight of price collusion across the meat industry will intensify.

By Eunyoung Lee lee.eunyoung6@koreadaily.com

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