If you have been buying beef in Canada since 2015, you might be entitled to a share of a nearly $8 million settlement. A proposed class-action agreement has been reached after allegations that major meat processing companies conspired to manipulate beef prices, potentially forcing Canadian consumers to pay more than they should have for years.
The settlement was announced this week after two major industry players agreed to the terms. JBS, recognized as the world’s largest meat processing company, along with several of its subsidiaries, has committed to paying approximately $7.5 million. National Beef Packing Company has also agreed to contribute $495,000 to the settlement fund, bringing the total to just under $8 million for eligible class members.
According to the class-action lawsuit filed in 2022, the companies allegedly participated in an illegal scheme to control beef production and artificially inflate prices for Canadian consumers. The legal action claims this conspiracy began as early as January 1, 2015 and affected both fresh and frozen raw beef products sold across the country.
This case echoes a previous high-profile price-fixing scandal involving bread products in Canada, which resulted in approximately $500 million in settlements. That case implicated major grocery chains and bread manufacturers who were found to have artificially raised bread prices between 2001 and 2015. Consumer advocates hope this beef settlement will bring similar relief to affected Canadians.
To qualify for compensation, consumers must have purchased raw beef products for personal use or resale in Canada on or after January 1, 2015. Food service industry purchases are excluded from the settlement. The agreement still requires court approval before any funds can be distributed, and legal fees will be deducted from the total amount. Meanwhile, class actions against two other companies, Cargill and Tyson, remain ongoing.
