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Food & Beverage

Court dismisses suit against Smithfield

May 24, 2005
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Smithfield Foods Inc., the nation''s largest hog producer and a major pork processor, said that a federal court dismissed a multimillion-dollar suit filed against the company by a meat processor it took over in 2003, the Associated Press reports. Pennexx Foods had charged in the Pennsylvania court that Smithfield conspired to put it out of business by failing to renovate a Pennexx plant, not shipping enough meat to fill orders and undercutting Pennexx''s prices. Smithfield, which had owned about 41 percent of Pennexx, took over the rest of the company two years ago when it defaulted on loans. Pennexx had sought more than $226 million in damages. Smithfield first changed the Pennexx name to Showcase Foods then shut the operation down in August.

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