Wednesday, June 28, 2017

Beef Company: Settlement With ABC 'Vindicated' Firm

Four years after Beef Products Inc. (BPI) filed a defamation lawsuit against ABC News for smearing its lean finely textured beef (LFTB) as “pink slime,” the two have reached a settlement. The $1.9 billion case against ABC News finally went before the jury June 5, 2017 and was settled June 28. While the terms were confidential, BPI spokesperson Tom Becker told The Media Research Center it was “a great point for the company. They’ve been vindicated.” According to Becker, the timing of the settlement “is telling.” It came as BPI was outlining to the jury the specifics of its $1.9 billion losses. The case might have meant even more money to ABC if it had lost because South Dakota law allows for triple damages in cases like this -- or potentially $5.7 billion. The fallout from the series of stories was horrendous. Prior to ABC’s reporting in March 2012, BPI employed roughly 1,350 employees at four facilities. But just 30 days after ABC’s attack, BPI lost 700 employees and had to close three of its four facilities...more

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