On July 19, the US Department of Justice (DOJ) filed a request for the court to accept Bumble Bee Foods plea agreement in the tuna price fixing case.
The DOJ stated that Bumble Bee has provided “substantial assistence” in the ongoing case and is unable to pay a full criminal fine.
Bumble Bee’s original fine was to have been between US$136.2 million and US$272.4 million, but the plea agreement reduces said fine to only US$25 million, although in the event of a sale the company would need to pay US$81.5 million.
To date, two former Bumble Bee executives and one former Starkist executive have been charged and pleaded guilty to collusion and price fixing the canned and packaged tuna market.
Full Content: Intrafish
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
US Consumer Watchdog Eyes Expansion of ‘Junk Fee’ Crackdown Ahead of 2024 Election
Oct 10, 2024 by
CPI
Brazil Proposes Reform to Competition Law Targeting Big Tech
Oct 10, 2024 by
CPI
Meta Enhances User Data Control, Resolving German Antitrust Dispute
Oct 10, 2024 by
CPI
X May Be Excluded from EU’s Strict Tech Rules, Sources Suggest
Oct 10, 2024 by
CPI
G7 Targets Competitive Imbalances in Semiconductor Industry
Oct 10, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh