The deal
ConAgra agreed to settle the case for $11.2 million. That includes an $8 million fine, which the Justice Department called the heftiest criminal fine ever in a U.S. food safety case. The deal also calls for the company to pay $3.2 million in forfeitures to the federal government.
The company still needs to enter a formal plea, which is expected at the hearing Tuesday, and Judge W. Louis Sands must approve the settlement. ConAgra’s final tab could get larger if the judge orders payment of additional cash as restitution to victims.
The fine shouldn’t hurt ConAgra’s bottom line too much. In October, the company reported more than $2.6 billion in sales and net earnings of $186 million during its most recent quarter.