US shelf staple seafood giant Bumble Bee Foods entered a guilty plea on Wednesday for its role in a price fixing cartel, agreeing to pay a fine of US$25 million.
According to a report from Law360, Bumble Bee pled guilty to violating the Sherman Act in California federal court Wednesday, in line with what the company announced in May.
Bumble Bee admitted to its role in a conspiracy to fix the price of canned tuna and agreeing to pay a reduced fine of US$25 million.
Jill Irvin, Bumble Bee’s general counsel and senior vice president, entered the guilty plea in court on August 2. According to Law360, she told judge Edward Chen that it was true the company had colluded with other seafood producers.
Full Content: Law 360
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