A defamation case brought against Disney's (DIS) - Get Report ABC News division is set to begin Monday in a South Dakota courtroom, in what could be the largest case of its kind in U.S. history, The Wall Street Journal reported. Beef Products is going after ABC for its 2012 "pink slime" coverage.

"Pink slime" is the name attributed to a highly used processed meat product. The company is calling the report false and said that its revenue declined as a result. Beef Products alleges $1.9 billion in damages.

ABC is standing behind its report, saying it never reported anything it knew to be a lie.

"This was the opposite of fake news," ABC lawyer Kevin Baine told the Journal. "It was real news of interest to consumers who didn't know this product was in their ground beef."

TheStreet Recommends

Retail's downturn giving you the blues? Jim Cramer has a list of retailers that are currently oversold, giving investors a leg up one of the market's most volatile sectors.