Judge Approves Dean Foods' Settlement With Farmers
08/05/11 6:06AM Associated Press
A Vermont judge has granted final approval to a settlement that would require dairy processor Dean Foods Co. to pay more than 9,000 Northeast farmers and their attorneys $30 million to settle antitrust allegations.
The settlement stems from a class-action lawsuit that accused Dallas-based Dean Foods; the cooperate Dairy Farmers of America; and the cooperative's marketing arm, Dairy Marketing Services, of working together to monopolize the market for raw milk in the Northeast, driving down prices paid to dairy farmers.
Dean does not admit any wrongdoing. DFA and DMS have opposed the settlement. U.S. District Court Judge Christina Reiss ruled on Thursday that the settlement was "fair, reasonable and adequate." The Burlington Free Press reports she also reduced plaintiffs' expenses and attorneys' fees from $10 million requested to $6 million.