Certification of two classes was denied in In re Cattle and Beef Antitrust Litigation.
Retained by the joint defense group
Allegations of Collusion
The plaintiffs alleged that the defendants, large meat-processing companies, colluded to depress the purchase prices of live cattle. The plaintiffs sought to certify classes of direct cattle sellers, indirect cattle sellers, and cattle futures contract buyers.
The conclusions in the order denying class certification were consistent with Professor McCrary’s and Dr. Overdahl’s findings.
Expert Rebuttal
The joint defense group retained Cornerstone Research, Justin McCrary of Columbia University, and James Overdahl, former chief economist at both the Securities and Exchange Commission and the Commodity Futures Trading Commission. Both experts submitted reports and were deposed. The analysis of uninjured class members and the need for inquiry into the individual circumstances of class members were particularly persuasive.
- Professor McCrary rebutted all four of the plaintiffs’ class experts.
- Overdahl rebutted the plaintiffs’ expert for the cattle futures contract buyers class.
Motions to Certify Classes Denied
The Minnesota District Court Judge denied certification of the indirect cattle sellers class and the cattle futures contract buyers class. The conclusions in the order were consistent with Professor McCrary’s and Dr. Overdahl’s findings.