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ABC News is facing a lawsuit from Beef Products Incorporated over its use of the term “pink slime” to describe its lean finely textured beef product.

The Associated Press reports the defamation lawsuit claims ABC News’ “widespread campaign of misinformation” about lean finely texture beef caused consumers to turn against the product and decreased its demand, forcing BPI to close three plants and leaving 700 people without jobs.

The Waterloo BPI plant closed in May.

The lawsuit seeks $1.2 billion in damages for what BPI calls “false and misleading and defamatory” statements made in ABC News reports.

Senior Vice President Jeffrey W. Schneider of ABC News says BPI’s lawsuit has no merit.