Update: ‘Pink Slime’ Defamation Suit Against ABC

Mar 28, 2014

A South Dakota judged denied to throw out a defamation lawsuit against ABC News for its coverage of the meat product known as lean–finely-textured-beef, which has been dubbed by some as “pink slime.”

The company Beef Products Inc. sued the network in 2012 for $1.2 billion in damages. They are claiming that ABC’s coverage prompted the closure of three of its plants by misleading consumers that the beef was unsafe by referring to it as “pink slime.”

ABC’s defense team argue that the network did make mention that the U.S. Food and Drug Administration has classified this product as safe to eat. This was allegedly said in each of its broadcasts on the topic.

The judge ruled that the television network is not protected against liability because it mentioned that the product was safe to eat.

The ruling was a preliminary motion to dismiss. The next step is starting discovery and ultimately presenting the case to a jury.

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
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Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
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South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.