Oct 7 (Reuters) - Tyson Foods ( TSN ) and Cargill have

agreed to pay a combined $87.5 million to settle a federal

lawsuit brought by consumers who accused the companies of

conspiring to inflate U.S. beef prices by restricting supply.

The preliminary class action settlements were filed on Monday in

federal court in Minnesota and require a judge's approval.

Tyson, the largest U.S. meat company, will pay $55 million.

Cargill agreed to pay $32.5 million. The proposed accords are

the first for consumers in the price-fixing litigation, which

began in 2019.

Attorneys for the plaintiffs have estimated there are about

36 million potential class members in 26 states and the District

of Columbia.

Tyson, based in Arkansas, and Minnesota-based Cargill agreed

to cooperate with the consumers as they pursue price-fixing

claims against the remaining defendants, JBS USA and National

Beef Packing.

Tyson and Cargill did not immediately respond to requests

for comment, and neither did JBS and National Beef. The

defendants have all denied any wrongdoing.

Lead attorneys for the consumers on Monday declined to

comment.

Eligible class members are individuals who indirectly

purchased beef products - such as chuck, loin and ribs - between

August 2014 and December 2019 from stores such as Walmart ( WMT ) and

Costco. The retailers are not named as defendants.

An expert for the plaintiffs said he estimates total damages

to the consumer class at $1.9 billion.

The plaintiffs' lawyers said they have spent tens of

thousands of hours pursuing the lawsuit. They said they will ask

the court to award them up to 33.3% of the settlement, or $29

million, in legal fees.

Tyson last week agreed to pay $85 million to settle a lawsuit by

consumers who accused it of conspiring with rivals to inflate

pork prices. Tyson denied wrongdoing in that case.

Earlier this year, JBS a $83.5 million settlement resolving

price-fixing claims from ranchers and other plaintiffs, but not

consumers. JBS has denied any wrongdoing.

The case is In re Cattle and Beef Antitrust Litigation, U.S.

District Court for the District of Minnesota, No.

0:22-md-03031-JRT-JFD.

For plaintiffs: Shana Scarlett and Steve Berman of Hagens

Berman Sobol Shapiro and Brian Clark of Lockridge Grindal Nauen

For Cargill: Jacob Bylund of Faegre Drinker Biddle & Reath

For Tyson: Susan Foster of Perkins Coie and John Terzaken of

Simpson Thacher & Bartlett

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