The Latest: BPI attorney: Settlement with ABC exceeds $177M
SIOUX FALLS, S.D. (AP) — The Latest on the size of a legal settlement between ABC and a South Dakota meat producer (all times local):
A lawyer for a South Dakota meat producer says the company’s defamation lawsuit settlement with ABC exceeds the $177 million charge the network’s parent company reported in a recent financial filing.
Disney, which owns ABC, disclosed the $177 million charge in a filing this week with the U.S. Securities and Exchange Commission that offered few other details.
Beef Products Inc. attorney Dan Webb said in a Wednesday statement that based on the disclosure, it appears Disney is funding $177 million of the settlement and insurers are “paying the rest.”
Webb’s statement doesn’t specify the full settlement amount. Disney didn’t immediately respond to an email requesting comment.
BPI sued ABC in 2012 over its reports on a beef product that critics dubbed “pink slime.” The companies announced the settlement in June while the case was at trial.
Disney has reported spending $177 million on a legal settlement during the quarter that its subsidiary ABC and a South Dakota meat producer announced a settlement in a high-profile defamation lawsuit.
Disney’s filing this week with the U.S. Securities and Exchange Commission doesn’t give other details. Disney didn’t immediately respond to an email requesting comment.
ABC and South Dakota-based Beef Products Inc. announced their settlement in June, but its terms are confidential. BPI sued ABC in 2012 over its reports on a beef product that critics dubbed “pink slime.”
BPI argued that ABC’s coverage misled consumers into believing the product is unsafe, is not beef and isn’t nutritious. A spokesman for BPI didn’t immediately return an email requesting comment.
They settled while the case was at trial.