StarKist—a subsidiary of South Korea’s Dongwon Group—has agreed to plead guilty to a charge of price-fixing, the Justice Department announced on Thursday, October 18.
The company faces a potential fine of US$100 million in connection with an agreement to fix canned tuna prices that ran from at least late 2011 to late 2013, the Department stated.
“The conspiracy to fix prices on these household staples had direct effects on the pocketbooks of American consumers,” said Assistant Attorney General Makan Delrahim of the Justice Department’s Antitrust Division. “All Americans have the right to the benefits of free and open competition — the best goods and services at a price free from collusion. We will continue to hold companies and individuals who cheat consumers accountable.”
“Our citizens’ confidence in the ability to buy goods within an unbiased market is key to sustaining an efficient and fair economy,” said Special Agent in Charge John F. Bennett, FBI San Francisco. “This investigation stands as a symbol of our commitment to holding corporations and senior leadership accountable and ensuring that activities such as price fixing will not be tolerated.”
Bumble Bee agreed in May 2017 to plead guilty to one count of fixing the prices of canned tuna and to pay a criminal fine of US$25 million. Two Bumble Bee executives also agreed to plead guilty to price-fixing, as did one StarKist executive.
Full Content: Gov DOJ
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