JBS took the plea, agreeing to pay 52 million USD to resolve the lawsuit in which it’s involved in the USA. The charge is of “being a cartel” along with other major players of the meat industry to control supply and maintain prices high. Even while taking the plea deal, JBS continues to claim innocence and to only agree to pay the sum because it represents the best option to manage its interests.
JBS takes the plea deal, but…
As reported by Reuters, JBS agreed to pay 52 million USD in fines, thus resolving the lawsuit brought against the corporation, along with other giants active in the segment. According to the charges, JBS and other operators conspired to limit the supply of bovine meat on the US market to inflate prices and increase profits.
The response
Lawyers defending JBS called the agreement “an icebreaker”. Reuters explains that JBS claimed no responsibility, but that the transaction was in the company’s best interest. The Brazilian group also added that it will defend itself from other charges. Now the ball is in the court of head judge John Tunheim, of the Minneapolis federal court. He will decide whether the agreement will be accepted or not.
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