McDonald's files suit against the "Big Four" beef companies, alleging a "price-fixing scheme"

Fast food juggernaut McDonald's is suing Tyson, JBS, Cargill and National Beef Packing Company and their subsidiaries, the Associated Press reports. The company is "alleging a price fixing scheme for beef specifically" and has filed a federal complaint in New York that "accused the companies of anticompetitive measures such as collectively limiting supply to boost prices and charge 'illegally inflated amounts,'" according to the publication.

When combined, Tyson, JBS, Cargill and National Beef control more than 80% of the U.S. beef market.

McDonald's alleges that this has been ongoing since possibly 2015 and has resulted in "a monopoly in which direct purchasers were forced to buy at prices dictated by [the meat packers]."

The AP notes that in recent years, both JBS and Tyson agreed to multi-million dollar settlements "after facing class-action claims that alleged purposely inflated chicken prices." These settlements, however, did not include any "admissions of wrongdoing."