Legal Proceedings
−Removed: Refer to the description of the “ Broiler Antitrust Civil Litigation ” and the In re Broiler Chicken Grower Litigation matter under the heading “ Contingencies ” in Part I, Item 1, Notes to Consolidated Condensed Financial Statements, Note 15:
+Added: Refer to the description of the “Broiler Antitrust Civil Litigation”, the consolidated class action relating to labor rates brought by plaintiffs for themselves and on behalf of a putative class of non-supervisory production and maintenance employees at chicken processing plants in the continental United States, and the In re Broiler Chicken Grower Litigation matter under the heading “Contingencies” in Part I, Item 1, Notes to Consolidated Condensed Financial Statements, Note 16:
Commitments and Contingencies, which discussion is incorporated herein by reference.
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We moved to dismiss the complaints, and in decisions on October 19 and 26, 2020, the court partially denied the motions.
−Removed: In April 2021, we reached agreement to settle all claims related to these class actions on terms not material to the Company.
−Removed: These settlements are subject to court approval.
+Added: In April 2021, we reached agreement to settle all claims with the putative direct purchaser class for $4.625 million and with the putative commercial and institutional indirect purchaser class for $1.75 million.
+Added: On May 25, 2021, the Court granted preliminary approval of the settlement with the putative direct purchaser class and on July 26, 2021, the court granted preliminary approval of the settlement with the putative commercial and institutional indirect purchaser class.
While we do not admit any liability as part of the settlements, we believe that the settlements were in the best interests of the Company and its shareholders in order to avoid the uncertainty, risk, expense and distraction of protracted litigation.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.