$50M payout udderly amazing
Thousands of Northeast dairy farmers are receiving their share of a $50 million settlement, nearly nine years after the farmers filed a class-action lawsuit against a national dairy marketing cooperative.
Dairy farmers of America this week paid an average of $4,000 to nearly 9,000 farms to settle a lawsuit that accused the marketing group of trying to drive down milk prices.
The 2009 class-action lawsuit charged Dairy Farmers of America; its marketing arm, Dairy Marketing Services; and Dallasbased Dean Foods with working together to monopolize the market for raw milk in the Northeast.
Dean Foods agreed to a separate $30 million settlement in 2011.
The deals covered farmers in Delaware, Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia, and the District of Columbia.