Hormel Foods will pay more than $11 million to settle class-action lawsuits alleging the company worked with other pork producers to illegally fix prices and overcharge customers, according to court records.
The proposed settlements, filed in federal court in Minneapolis last week, will see the Austin, Minn.-based food company end the litigation without admitting fault.
Hormel will pay $2.4 million to institutional customers like restaurants and delis; $4.8 million to wholesalers and other direct purchasers; and $4.4 million to consumers, if a federal judge approves the agreements.
I would like this, but let’s also add in government oversight. You got caught doing something illegal in order to make more money? Your punishment is having a government official (or several) watch and check everything you do for the next 10 years to make sure everything you’re doing is legally up to snuff. Because when you’re naughty, mom watches you closer.