Pilgrim's Pride settles derivative lawsuit; JBS to pay $31M to company

PILGRIMS PRIDE CORP

Settlement of shareholder derivative suit: JBS defendants pay $31M to Pilgrim's Pride, pending Delaware Court of Chancery approval.
Settlement amount stems from raising Tax-Sharing-Agreement 'Dividend' definition from $725M to $1.17B, per mediator recommendation.
JBS pays $250K initial deposit plus $30.75M to escrow controlled by Pilgrim's Pride; net proceeds go to Company, not stockholders directly.
Settlement releases all claims against JBS and directors regarding Charter Amendment and Tax Sharing Agreement; parties admit no wrongdoing.

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