Pink Slime-we have all heard the term; it refers to a beef product that was put out by Beef Products Inc. The beef company is now claiming defamation and is planning on filing a lawsuit.

At the beginning of the year, the term 'pink slime' was thrown out into the media.  Worry soon surfaced resulting in online petitions asking for schools to remove it from the grocery list.

The outcome was that hundreds lost their jobs because BPI was forced to close down processing plants.  Back in May, Amarillo's BPI plant was shut down leaving 200 people without work.

Now BPI is planning on suing for defamation.  However, the company and lawyers refuse to name the defendant.  But they do say that they suffered 'substantial' loses.  They go on to say that all the meat referred to as pink slime is 100% beef.

The filler being used has been used for years and meets federal food safety standards.  BPI has also gained the backing of many governors including Texas's Rick Perry.

The lawsuit is said to be announced Thursday.  As for the outcome, if BPI clears it's name, the plant here in Amarillo could be reopened.