ABC and South Dakota-based Beef Products Inc. (BPI) reached a settlement in a $1.9 billion libel lawsuit against the network regarding its reports on lean, finely textured beef (LFTB) -- deemed “pink slime” by critics and ABC. The terms of the settlement are confidential, but BPI had sued the network for $1.9 billion.
BPI argued ABC misled consumers into believing the product is unsafe, isn’t beef and isn’t nutrious, resulting in more than a 3 million-lb. drop in weekly sales.
ABC spokeswoman Julie Townsend said in a statement that the network maintains it reports accurately presented the facts, but said that “continued litigation of this case is not in the cimpany’s interests.”
