McDonald's (MCD) has sued major meatpacking companies over allegations that they conspired to limit beef supplies and drive up prices, media outlets reported Monday, citing court documents.
Named in the suit were JBS, Tyson Foods (TSN), and others. McDonald's accused them of conspiring since 2015 to reduce output to drive up industry prices.
"Only colluding meatpackers 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 filed in New York, according to Reuters.
McDonald's seeks monetary compensation and an end to the alleged scheme, Reuters said.
The meat producers have denied any wrongdoing in previous cases filed against them by retailers.
McDonald's, JBS and Tyson did not immediately respond to MT Newswires' request for comments.
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