DFA to Pay Producers $50 Million
The Associated Press reports that Dairy Farmers of America has agreed to pay $50 million to thousands of northeast dairy farmers to settle antitrust allegations. The Wall Street Journal reports that a class-action lawsuit filed in 2009 charged Dallas-based Dean Foods, DFA, and the cooperative's marketing arm, Dairy Marketing Services, with working together to monopolize the market for raw milk in the Northeast, driving down prices paid to dairy farmers.
DFA does not admit any wrongdoing under the terms of the settlement. It says the legal costs have become too great. The settlement agreement is preliminary and must be approved by a judge.
Dairy processor Dean Foods Co. agreed to a settlement of $30 million in 2011.
Read more at: http://onlilne.wsj.com/article/AP3b89bf13c7ac4c029b39d41a4558ea97.html.