Announcement • Jul 28

Triumph, LLC and Agri Stats, Inc. Announce Class Action Settlement Regarding Pork Products with Co-conspirators

Triumph, LLC and Agri Stats, Inc. have reached settlements in a class action antitrust lawsuit filed on behalf of Commercial and Institutional Indirect Purchaser Plaintiffs. Agri Stats has agreed to certain non-monetary relief but has not agreed to pay any money. Triumph is required to pay $700,000. In addition to this monetary benefit, Triumph has also agreed to certain non-monetary relief and to provide specified cooperation in the Commercial and Institutional Indirect Purchaser Plaintiffs' continued pursuit of the lawsuit. There will be no payments to the Settlement Classes at this time. Before any money is paid, the Court will hold a hearing to decide whether to approve the Settlement. The United States District Court for the District of Minnesota authorized this Notice. This Court ordered Notice may affect your rights. Commercial and Institutional Indirect Purchaser Plaintiffs allege that Defendants and their co-conspirators conspired and combined to fix, raise, maintain, and stabilize the price of Pork products, from at least January 1, 2009, with the intent and expected result of increasing prices of Pork products in the United States, in violation of federal antitrust laws and various state antitrust, consumer protection and unfair trade practices, and unjust enrichment laws. Agri Stats and Triumph deny they did anything wrong. The Court did not decide whether Plaintiffs or Settling Defendants were right, but both sides agreed to the Settlements to resolve the lawsuit and get benefits to the Settlement Classes. Agri Stats has agreed to certain non-monetary relief to resolve all Settlement Class members' legal claims against Agri Stats for the Released Claims (as defined in the Agri Stats Settlement Agreement). There are no monetary benefits in the Agri Stats Settlement Agreement. Triumph will pay $700,000 to resolve all Settlement Class members' legal claims against Triumph for the Released Claims (as defined in the Triumph Settlement Agreement). In addition to this monetary benefit, Triumph has also agreed to certain non-monetary relief and to provide specified cooperation in the Commercial and Institutional Indirect Purchaser Plaintiffs' continued pursuit of the lawsuit. No money will be distributed at this time. Settlement Class Counsel will ask the Court for attorneys' fees based on their services in this lawsuit not to exceed one-third of the Triumph Settlement Fund. Settlement Class Counsel will also request that the Court reimburse them for litigation expenses and award each class representative a service payment of $5,000.00. Any payment to the attorneys or class representatives will be subject to Court approval, and the Court may award less than the requested amount. The attorneys' fees, costs, expenses, and service payments that the Court orders, plus the costs to administer the Settlement, will come out of the Triumph Settlement Fund. Agri Stats is not required to pay attorneys' fees, expenses or service payments to the class representatives. When Settlement Class Counsel's motion for fees and service payments is filed, it will be available at the Settlement Website. The motion will be posted on the website before the deadline for objecting to the Settlements. You will have an opportunity to object to this request. You do not need to take any action to remain a member of the Settlement Classes and be bound by the Settlement Agreements. As a Settlement Class member, you may be eligible to participate in any monetary distribution, which may happen later. If you do not like something about the Settlements and you have not previously excluded yourself from the Settlement Class, you can object to the Agri Stats and/or Triumph Settlements. Instructions on how to object are found on the Settlement Website. While the Settlements are only with Agri Stats and Triumph at this time, the Settlement Class includes purchasers of Pork products (as defined in the Settlement Agreements) from any of the Defendants or their co-conspirators. The Court will hold a hearing in this lawsuit In re Pork Antitrust Litigation (Commercial and Institutional Indirect Purchaser Actions), Case No. 0:18-cv-01776 (D. Minn.) to consider whether to approve the Agri Stats and Triumph Settlement Agreements. You may ask to speak at the hearing, but you do not have to. Please check the Settlement Website for the time and date of the Final Fairness Hearing. This Notice is a summary only. In addition to Agri Stats and Triumph, the Defendants and alleged co-conspirators in this lawsuit are Clemens Food Group, LLC, The Clemens Family Corporation, JBS USA Food Company, Hormel Foods Corporation, Hormel Foods, LLC, Seaboard Foods LLC, Seaboard Corporation, Smithfield Foods, Inc., and Tyson Foods, Inc., Tyson Prepared Foods, Inc., Tyson Fresh Meats, Inc.

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Triumph, LLC and Agri Stats, Inc. Announce Class Action Settlement Regarding Pork Products with Co-conspirators

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