01:29:33 EDT Sat 12 Jul 2025
Enter Symbol
or Name
USA
CA



McDonald's CDR (CAD Hedged)
Symbol MCDS
Shares Issued 1,550,000
Close 2024-10-08 C$ 26.53
Market Cap C$ 41,121,500
Recent Sedar Documents

Globe/wire say McDonald's sues major beef producers

2024-10-08 08:05 ET - In the News

The Globe and Mail reports in its Tuesday, Oct. 8, edition that McDonald's has filed a lawsuit against JBS, Tyson Foods, and other major meat processing and packing companies, alleging that they conspired to restrict beef supplies, leading to artificially inflated prices paid by the fast-food giant. A Reuters dispatch to The Globe reports that McDonald's said in a lawsuit filed on Friday in Brooklyn federal court that the meat packers, also including Cargill and National Beef Packing, collectively reduced their output to drive up industry prices since 2015. The lawsuit is the latest to accuse the world's largest meat packers of violating U.S. antitrust law by co-ordinating on the price they paid for cattle and on slaughter volumes. "Only colluding meat packers would expect to benefit by reducing their prices and purchases of slaughtered cattle because they would know that their conspiracy would shield them from the dynamics of a competitive marketplace," McDonald's said in its lawsuit. The meat producers have denied any wrongdoing in related cases that have been consolidated in Minnesota federal court. The plaintiffs in those cases include BJ's Wholesale, Sodexo, Target and Aldi.

© 2025 Canjex Publishing Ltd. All rights reserved.