Tyson Foods Inc. said Tuesday it will pay $42.5 million to settle a lawsuit filed by 85 hog farmers as well as close two processing plants cutting hundreds of jobs and shifting production from Bentonville to Russellville.
The settlement comes just before an Aug. 1 trial and after nearly three years of fighting by farmers who were left holding bills for hog farm improvements when Tyson canceled their contracts. The settlement, after attorneys’ fees and taxes, still won’t be enough to pay farmers’ bills, plaintiffs said Tuesday.