A multimillion-dollar settlement for dairy farmers in Tennessee and other Southeastern states will likely be rendered in federal court in Knoxville. Southeastern dairy farmers in a class-action lawsuit reached a $140 million settlement with one of their adversaries, Dean Foods Co., earlier this week.
According to information published by the Associated Press, the agreement will be decided by the U.S. District Court of Northeastern Tennessee, which has a home base of Knoxville. The case was filed four years ago on behalf of 7,200 farmers, accusing Dean, the nation’s largest milk processor, and Dairy Farmers of America, the nation’s largest dairy cooperative, and other entities of unfair competition.
Under the settlement, the Dallasbased dairy processor will pay a total of $140 million into a fund that will be distributed to dairy farmers that are part of the class action. Dean will make an initial payment of $60 million when the settlement receives preliminary court approval, with $20 million payments for each of the following four years.
Read the expanded report in the print edition or the enhanced electronic version of the Kingsport Times-News.
Published July 16th, 2011 5:15 am
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