Judge Rejects Damage Award Against Tyson

Tyson Foods Inc., the world’s largest meat processor, won’t have to pay $1.28 billion in damages to thousands of ranchers, a U.S. judge said in refusing to enter the judgment.

A jury in Montgomery, Ala., found last month that Springdale, Ark.-based Tyson manipulated cattle prices and awarded the damages. U.S. District Judge Lyle Strom in Montgomery said the award “clearly overstates defendants’ liability in this case,” according to a company release.

In addition to challenging the award, Tyson is appealing the verdict.