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Disney Settled The "Pink Slime" Lawsuit For A Whopping $177 Million

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NYT - The Walt Disney Company said in its latest quarterly financial statement that it had $177 million in costs related to settling litigation. The announcement came just weeks after ABC News, a Disney unit, reached a settlement with a meat producer that accused the network of defamation for its reports about so-called pink slime, a processed beef product used as low-cost filler.

The company’s statement, released on Aug. 8, said in a footnote that the $177 million charge was “incurred” in the nine-month period ending July 1, in addition to what was covered by insurance. It gave no details about whether that charge — or how much of it — was directly related to the processed beef product case.

ABC News reached the settlement with Beef Products Inc., a privately owned meat producer in South Dakota, on June 28, ending a jury trial that started earlier that month. The terms of the settlement were not disclosed.

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Brutal. You try to do some reporting, you try to save the kids of the world from eating pink slime, and next thing you know you’re stroking a check for $177 million dollars. It could have been a lot worse though:

Beef Products said a report in 2012 by Jim Avila, an ABC News correspondent, misled consumers about the safety of the product, which is officially known as “lean finely textured beef.” The company had sought $1.9 billion in damages, but the figure could have grown to as much as $5.7 billion under a South Dakota law.

This company wanted 1.9 BILLION dollars because ABC News reported their meat is fake. And you know what…I think they deserved it. Not because ABC News was slanderous or anything like that, but because they went out of their way to say what we all already knew. Of course half the shit we eat is fake as hell. Have you ever seen Oscar Meyer meat in real life? It’s made of the same plastic as the packaging. I’m actually always shocked there aren’t more lawsuits flying around about quality of meat, but then I stop and realize anyone who buys that stuff should know what they’re getting into to begin with.

It’s like going to a fast food restaurant that rhymes with Shmacko Shmell. You hear all the time about “blah blah blah, grade F meat, blah blah blah, possibly comes from a horse”. And my reaction is always a very Jay Cutler “whoooooooo caresssssssss”. I’m not going to the Shmell to get Wagyu beef. I want a sloppy ass gordita crunch, please and thank you, more pink slime the better.