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Settlement reached in seafood price-fixing class action lawsuit

By  |  April 3, 2012

Pacific Seafood and West Coast fishermen have reached a settlement to resolve allegations brought in a class action lawsuit. The plaintiff class claimed that Pacific, the U.S.’s largest seafood buyer, fixed the prices of seafood by using its market power as both a processor and distributor. The plaintiffs’ attorneys sought $74-120 million in damages, as well as an order to have Pacific sell its processing assets.

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    The terms of the proposed settlement now call for no monetary damages. Instead, Pacific is to embark upon pro-competitive measures such as increasing transparency of seafood wholesale prices and accepting fish scrap from new processors. The settlement is awaiting approval by U.S. District Judge Owen Panner.

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