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
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