Disney says settled 'pink slime' case in Q3
In a regulatory filing, Disney noted that on September 13, 2012, plaintiffs filed an action in South Dakota state court against certain subsidiaries and employees of the company and others, asserting claims for defamation arising from alleged false statements and implications, statutory and common law product disparagement, and tortious interference with existing and prospective business relationships. The claims arise out of ABC News reports published in March and April 2012 about a product, Lean Finely Textured Beef, that was included in ground beef and hamburger meat. Plaintiffs' complaint sought actual and consequential damages in excess of $400M, statutory damages pursuant to South Dakota's Agricultural Food Products Disparagement Act, and punitive damages. During the current quarter, the matter was settled during trial.