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EU: One triumph, one defeat in 2008 banana cartel fine appeals

 |  March 14, 2013

Fresh Del Monte Produce Inc., which was fined by the European Commission in 2008 for participating in a banana cartel, has won a reduction in the fine now lowered to $11.4 million from the original $19 million. Its counterpart Dole Food Co., which was also fined in the same case, was not so victorious, having lost its own challenge in court to reduce its $59 million fine. The companies were found to have colluded to fix prices between 2000 and 2002 in eight countries in Europe. Dole has vowed to appeal the decision of the EU Court of Justice to uphold the fine. The case also resulted in Internationale Fruchtimport Gesellschaft Weichert GmbH & Co. being issued a fine. Chiquita Brands International Inc., however, was not fined under the EU leniency program as it was the first company to come forward with information about the cartel.


Full Content: Bloomberg

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