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>> Beef Products Inc settling its defamation and libel suit with ABC and reporter Jim Avila Wednesday. BPI had claimed that ABC incorrectly used the term pink slime in a TV news broadcast in 2012, defaming what the company says is a lean finely textured beef product. The case had been unfolding in recent weeks at this courthouse in the tiny town of Elk Point, South Dakota, home turf for the meat processing company.
ABC for its part saying, although we have concluded that continued litigation of this case is not in the company's interest, we remain committed to the vigorous pursuit of truth and the consumer's right to know about the products they purchase. BPI had sought nearly $2 billion in damages. The terms of the settlement have not been disclosed.