The Chicago Tribune reports Southeast Dairy Farmers will receive $140 million in a partial settlement with Dean Foods in a class-action suit filed four years ago for unfair competition.
Dean Foods will make an initial payment of $60 million to a fund distributed among dairy farmer class members with an additional $20 million each year for the next four years.
The Southeast Dairy Farmers, representing 7,200 farmers, filed the case against Dean Foods, Dairy Farmers of America, and others accusing the defendants of limiting competition, lowering the price regional farmers received for raw Grade A milk.
Dean will also take steps to restore fair competition in the milk market.
Although a settlement has been reached with Dean, the case will continue against DFA, Dairy Marketing Services, Southern Marketing Agency, National Dairy Holdings and two individuals.
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Source: Chicago Tribune