The two parties have finally come to an agreement—ending the last stage of the litigation that dates back four years. The Dairy Farmers of America (DFA), the milk industry’s marketing cooperative, agreed yesterday to pay $158.6 million to settle antitrust accusations. And just in the nick of time—the case was set to go to trial yesterday.
About 7,000 dairy farmers in 14 states sued the co-op in 2009, claiming the organization conspired to fix the price of milk in the southeastern U.S. Combined with other settlements involved in this litigation, the dairy farmers will receive about $300 million.