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Dairy Settlement

D

DRussell

Well-known Member
I got my Farmshine paper yesterday and there was an article about a settlement with Dairy America on the 2009? class action lawsuit against them. Dairy America improperly reported the price of forward priced sales to the NASS which resulted in milk prices being lower than they should have been. Settlement amount is $40 million. The article said if you produced and sold milk in a Federal Order between January 2002 and 2007 you are entitled to a piece of the settlement.
 
Ya,I've got the envelope right in front of me. It came in the mail a few weeks ago. I've been sitting on it waiting to read or hear more about it. Like you said,class action lawsuit with a chunk going to the lawyers. I don't know if it's worth digging through old receipts to prove production or not?
 
I just found the postmark on the envelope. Dec 2 2018,so I guess it's been laying here for at least a month. I sold the cows in November 03. The settlement starts on Jan 1 02,so I probably wouldn't have much coming if anything at all. Probably just give the lawyers a little bit more if I filed.
 
My guess is the lawyers amount is set. If you and I file it will just reduce the amount the other farmers will get. I sold the cows in September 2002. I'm sure my amount would be pretty small.
 
It says the court will decide how much the lawyers will be paid. Says they'll ask for not more than one third of the settlement,plus the reimbursement of expenses incurred in connection with the case.
 
(quoted from post at 10:48:04 01/08/19) It says the court will decide how much the lawyers will be paid. Says they'll ask for not more than one third of the settlement,plus the reimbursement of expenses incurred in connection with the case.
Click to expand...
0/3=$13.3M + $20M (expenses)= $33.3M, leaving $6.7M to divide among how many thousands?
 
That sounds about right.

I got a check for about a buck fifty from a settlement regarding retirement fund manipulation. Hardly worth the time to open the envelope. I'll bet the lawyers got a bit more.
 
They troll for such. We call them ambulance chasers. Asbestos has a 30 Billion nest egg they are scrambling for; adds on tv daily. Monsanto ads have started and the rubber word COULD is in their ads since nothing has been proven yet but they are out there enmasse.....of the Lawyers, for the Lawyers, by the Lawyers....who for the most part make our laws......when I was younger I thought you had to be a lawyer to be a congressperson......since they write the laws of the nation.

Knew of one locally (via a close friend) that said the if you enter a courtroom not ready to defend both sides of the case you are history. Have a grandson headed that way. What drives me up the wall is the reference to a "jury of your peers".......my what????? Not MY peers!
 
I received the letter. I did some calculations to arrive at an estimated pay off for a hundred weight of milk produced during that time. Using some USDA statistics I found, that time period had about 175,000,000,000 lbs per year. Using figure ( that I read somewhere) 60% of milk is under Federal order per year gives 105,000,000,000 lbs/year for 5.33 years yields 559,650,000,000 lbs. total. That equals 5,596,500,000 cwt.of milk that will share in the $40 million (less lawyers 33% leaving about $26 million for producers). I calculate that payment will be about .004645 dollars per cwt. I believe my math to be correct. Anyone is welcome to calculate for yourself to show me if I have erred in my calculations.
We had roughly 4,400,000 lbs. milk during the period so figuring 44,000 cwt at .004645/cwt gets us $204.00 . I will for sure be returning the claim for.
 
(quoted from post at 13:17:13 01/09/19) I received the letter. I did some calculations to arrive at an estimated pay off for a hundred weight of milk produced during that time. Using some USDA statistics I found, that time period had about 175,000,000,000 lbs per year. Using figure ( that I read somewhere) 60% of milk is under Federal order per year gives 105,000,000,000 lbs/year for 5.33 years yields 559,650,000,000 lbs. total. That equals 5,596,500,000 cwt.of milk that will share in the $40 million (less lawyers 33% leaving about $26 million for producers). I calculate that payment will be about .004645 dollars per cwt. I believe my math to be correct. Anyone is welcome to calculate for yourself to show me if I have erred in my calculations.
We had roughly 4,400,000 lbs. milk during the period so figuring 44,000 cwt at .004645/cwt gets us $204.00 . I will for sure be returning the claim for.
Click to expand...
t will be interesting to see how close to 204 you receive, but you can be sure that it will be less than 204.
 
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