Mike
Well-known member
Cattle Alert: Tyson Disappointed By S. Dakota Jury Verdict On Boxed Beef
Tyson Foods Inc (TSN) said it was disappointed with a decision by South Dakota jury that found three major meat packers in violation of the federal Packers and Stockyards Act by a federal court jury Wednesday in Aberdeen.
The jury fined Tyson $4 million, Cargill Meat Solutions/Excel was fined $3 million and Swift Beef was fined $2.25 million, according to the Aberdeen News Web site.
"While we're disappointed by the jury's decision, this case is not over and if the verdict is entered by the court we intend to appeal. As noted during the trial, our company was unaware of the USDA price reporting mistake until it was publicly announced. At all times we dealt fairly with cattle producers during the period in question, and paid all amounts agreed upon for cattle," said Gary Mickelson, company spokesman for Tyson in an emailed statement.
A spokesman for Cargill could not be immediately reached for comment.
According to the Aberdeen News, the suit claims the meat packers knowingly used erroneous USDA price reports to pay less for livestock.
Source: Debbie Carlson and Richard Gibson, Dow Jones Newswires; 312-750-4072 and 515-282-6830 [email protected].; [email protected].
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The court must have moved some people from down here in Montgomery up there just to be the jurors. :???: :???: :???: :???: :???:
National Beef was not found guilty.
Tyson Foods Inc (TSN) said it was disappointed with a decision by South Dakota jury that found three major meat packers in violation of the federal Packers and Stockyards Act by a federal court jury Wednesday in Aberdeen.
The jury fined Tyson $4 million, Cargill Meat Solutions/Excel was fined $3 million and Swift Beef was fined $2.25 million, according to the Aberdeen News Web site.
"While we're disappointed by the jury's decision, this case is not over and if the verdict is entered by the court we intend to appeal. As noted during the trial, our company was unaware of the USDA price reporting mistake until it was publicly announced. At all times we dealt fairly with cattle producers during the period in question, and paid all amounts agreed upon for cattle," said Gary Mickelson, company spokesman for Tyson in an emailed statement.
A spokesman for Cargill could not be immediately reached for comment.
According to the Aberdeen News, the suit claims the meat packers knowingly used erroneous USDA price reports to pay less for livestock.
Source: Debbie Carlson and Richard Gibson, Dow Jones Newswires; 312-750-4072 and 515-282-6830 [email protected].; [email protected].
********************************************************
The court must have moved some people from down here in Montgomery up there just to be the jurors. :???: :???: :???: :???: :???:
National Beef was not found guilty.
