Tyson Hit with $1.28 Billion Verdict

When I saw that Reuters headline at Howard Bashman‘s site, I was wondering what misdeed Mike Tyson had done to earn such an astonishing judgment.

It turns out it was the other Tyson:

A federal jury on Tuesday ruled that top U.S. meat packer Tyson Foods Inc. illegally manipulated the cattle market, awarding damages of $1.28 billion to cattle producers in a case that could have a far-reaching impact on the $70 billion U.S. beef industry.

In deciding the eight-year-old case, the jury in Montgomery, Alabama, also ordered Tyson to change the way it buys cattle, representatives for both sides said.

There is no mention as to whether Hillary Clinton is involved.

Alabama juries are notorious for outlandish tort awards. My guess is this will be reduced by a decimal point by the time all’s said and done.

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FILED UNDER: Law and the Courts
James Joyner
About James Joyner
James Joyner is Professor and Department Head of Security Studies at Marine Corps University's Command and Staff College and a nonresident senior fellow at the Scowcroft Center for Strategy and Security at the Atlantic Council. He's a former Army officer and Desert Storm vet. Views expressed here are his own. Follow James on Twitter @DrJJoyner.

Comments

  1. Mark says:

    If it WAS Mike Tyson owing that much, he wouldn’t be able to pay $1,279,994,447 of it.

  2. joy says:

    erm, that doesn’t look like a tort. Torts are civil wrongs. According to Reuters, this case was a) heard in federal court and b) was brought under the FEDERAL Packer and Stockyards Act. It is an antitrust statute.

  3. James Joyner says:

    Joy,

    True. But the principle is the same–Alabama juries are notorious for awarding ridiculous amounts against big corporations. I’m not sure what Tyson could have done that amounts to 1.28 billion when the whole industry if 70 billion.

  4. Hmm…Tyson manipulating the cattle industry.

    Might they have been put up to it by the Chick-Fil-A cows?

  5. McGehee says:

    Those cows are maaaaad. MAAAAAAAAAAAAAAAAAD I tell you!