$50 Million Dairy Antitrust Case Settled in Northeast
The Concord Monitor reports that a $50 million antitrust suit against Dairy Farmers of America and Dairy Marketing Services was settled yesterday, with dairy farmers each receiving $4,000. The farmers alleged the co-ops and Dean Foods conspired to drive down milk prices.
Nearly 9,000 farmers in 11 Northeast states were involved in the suit, which stretches back seven years. Dean Foods reached a $30 million settlement in 2010.
Safeguards were also agreed to that includes the formation of an audit committee with two independent members. And a farmer omsbudperson position has been created to investigate farmer complaints.
Read more here. Or watch the video from "AgDay TV" below: