Maybe “slime” isn't the most appetizing way to describe a food product, but it's certainly easier to stomach than a potential $1.2 billion lawsuit. ABC News may soon be eating both its words and that price tag though, as a South Dakota based judge has rebuffed the broadcaster's attempts to toss out a defamation lawsuit brought as a result of remarks it made about extruded meat products.

During a series of reports by ABC News in the spring of 2012, the signature product of Beef Products Inc. was repeatedly referred to as “pink slime.” According to BPI, the product, which is frequently used in fast food restaurants, is a finely ground and textured beef product. The company claims that repeated use of the term “pink slime” hurt its reputation by mischaracterizing an important offering as inedible.

The Department of Agriculture ruled that the product was safe for consumption, however many large retailers, including Wal-Mart, stopped selling items like hamburger patties that contained the product in the wake of the ABC reports.