So what was going on with the trial right before the settlement offer came in?
Dan Webb, attorney for BPI with Winston and Strawn law firm out of Chicago say they has just finished presenting their case. He says they had announced they were prepared to also make closing arguments, when the settlement offer came in and it all happened very quickly.
"By having the chance to prove in a courtroom to show actual evidence to prove that our product is a great product and it should be in all ground beef in America. The fact that it is not is because of an ABC media campaign, there was no reason for it, no news event, there was nothing at all that would have sparked a story for one day, let alone a 30 day story a company that took 30 years to build and we had gotten across to the jury that ABC knew exactly what it is doing, they knew they were making false statements on the air, they knew they were intimidating grocery store chains to stop selling the product of ground beef - and they destroyed the company and caused 1.9 billion dollars in damages," said Dan Webb, Attorney for BPI.
Several people in the community say they are looking forward to BPI being able to rebuild. President of the Siouxland Chamber of Commerce also adds that he sees the opportunity for BPI to re-establish itself in the community.
"I am certain that the settlement between BPI and ABC will provide BPI with a strong foundation for future growth and with that strong foundation and future growth we certainly hope and expect that our local community and our local economy will grown and expand along with them,' said Chris McGowan, President, Siouxland Chamber of Commerce.