McDonald's (MCD) and Cargill have settled an antitrust lawsuit filed by McDonald's, which accused major beef suppliers of fixing prices, according to a statement by Cargill Wednesday.
As part of the settlement, McDonald's dropped its claims against Cargill, but the lawsuit will proceed against other companies, the statement said.
McDonald's had alleged that beef suppliers worked together to raise prices unlawfully.
The company is pleased to have resolved the issue with McDonald's and will continue to defend itself against similar, remaining lawsuits from other plaintiffs, Cargill's Chief Customer Officer Pete Richter said in an emailed statement to MT Newswires.
McDonald's did not immediately respond to a request for comment from MT Newswires.
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