Individual consumers in fifteen states and the District of Columbia may qualify for payment as part of a settlement in a lawsuit brought against major U.S. dairy producers (including Land O'Lakes, the National Milk Producers Federation, Dairy Farmers of America and Agri-Mark) alleging the producers intentionally reduced milk supplies by sending dairy herds to slaughter to artificially inflate dairy prices.

Consumers who purchased milk products (milk, cream, half and half, yogurt, cottage cheese, cream cheese or sour cream) for their own use from 2003 until now have until January 31st to file their claims, with the exact amount of each claim to be determined based on the total number of claims.

According to the settlement website, the number of claimants to date has exceeded predictions, so the expected payout is now lower than originally stated ($45-$70), with some media reports estimating consumers could receive as little as just a few cents or as much as $15.

News reports indicate that lawyers will receive $17.3 million of the $52 million settlement.

—Sources: boughtmilk.com and Wisconsin State Journal