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Pilgrim's Pride reaches $31 million settlement in JBS governance dispute

8/31/2026

A $31 million cash settlement has been proposed to resolve a consolidated stockholder derivative and class action against Pilgrim's Pride Corporation (PPC) and its majority owner JBS, S.A., filed in the Delaware Court of Chancery.

What complicates the result: the entire settlement amount flows to the company, not to the shareholders who brought it.

2025-0828-PAF, was brought by the City of Miami Beach Fire and Police Pension Fund and Bruce Taylor on behalf of PPC stockholders.

Named defendants include JBS Wisconsin Properties, LLC, JBS USA Food Company, JBS USA Food Company Holdings, and JBS, S.A., alongside director defendants Gilberto Tomazoni, Wesley Mendonça Batista, Joesley Mendonça Batista, Andre Nogueira de Souza, Ajay Menon, Farha Aslam, Raul Padilla, Wallim Cruz de Vasconcellos Jr., and Arquimedes A.