Individuals who filed claims as part of a $52 million class-action settlement that alleged milk price fixing may only be getting $6 to $6.50 back.
A 2011 lawsuit claimed that some dairy co-ops and others conspired to fix prices by reducing the size of their herds, thus raising the price of milk.
Courthouse News Service also reported the class affects consumers who purchased cream, half & half, yogurt, cottage cheese or sour cream in California, Kansas, Massachusetts, Michigan, Missouri, Nebraska, Nevada, New Hampshire, Oregon, South Dakota, Tennessee, Vermont, West Virginia, Wisconsin and the District of Columbia.
“The more claims received, the lower the expected payout amounts, because there is a fixed settlement fund,” the Fresh Milk Products Anti-Trust Litigation said on its site. “Please note that the number of claimants has exceeded original predictions, so the expected payout will be lower than originally anticipated. Individuals may receive between approximately $6 to $6.50, and entities may receive between approximately $168 to $182.”
The $52 million dollar pool will be divided among the lawyers and every consumer who signs up.
The suit was originally filed in 2011 against big name food conglomerates, agribusinesses and the nation’s largest dairy producers, ranging from Land O’ Lakes to Dairy Farmers of America Inc., Dairylea Cooperative Inc. and Agri-Mark Inc., according to the law firm Hagens Berman Sobol Shapiro LLP.
Source: www.wisn.com
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