A six-year battle between Oklahoma poultry farmers and OK Industries Inc. has resulted in a $21 million jury award for the farmers. The action brought in the U.S. District Court of Eastern Oklahoma contended that the company had violated the Packers and Stockyard Act. Specifically, plaintiffs claimed the company constituted a monopsony in the area of eastern Oklahoma where it operated and imposed negative pricing and other procedural practices to their detriment. A monopsony is similar to a monopoly except it is where sellers have only one buyer. The plaintiffs originally lost at trial, but the Court of Appeals for the Tenth Circuit reversed the ruling and sent the suit back for a second trial. OK Industries may appeal the award, which would take the case back to the appeals court.
Source: Class Action Reporter
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.