StarKist Pleads Guilty to Price-Fixing Conspiracy, Faces $100M Fine
[2024-01-09 16:19:03]
StarKist acknowledged a complaint for felony pricing after acknowledging collusion with competitors to keep the price of canned tuna high
In a statement, the US Department of Justice said in a statement that the company had agreed a petition that includes a fine of up to $ 100 million with the Ministry of Justice Antitrust Division on Thursday.
According to the Ministry of Justice, StarKist and its accomplice tuna makers Sea Chicken and Hornet reached an agreement to determine the price of canned tuna between November 2011 and December 2013.
In addition to admitting the crime, StarKist agreed to cooperate with the Ministry of Justice investigation which began in 2015.
Andrew Choe, president and chief executive officer, says: "We will continue our business with maximum transparency and integrity.This process is long-standing, but we will continue to strengthen the relevant compliance best practices and take action necessary for this litigation agreement solved."
The investigation produced six arguments. According to the NPR, two former Bumble Bee executives and one StarKist executive acknowledged the crime for pricing. Former Bumble Bee CEO Christopher Lischewski claimed that the pricing fee was innocent.
Marine chicken was not prosecuted for the company's investigation and division survey
Assistant Attorney General Makan Delrahim said in a statement: "OK, the prices of these conspiracy family staple foods in the US consumer wallet gave direct impact." "All Americans are free and open competition You can benefit - best products and services, prices are not conspiracy. "
In March 2009, Hitachi Display acknowledged LCD pricing from LG Display, CPT and Sharp. According to the US Justice Department, Hitachi will pay a penalty of $ 31 million to repair the LCD price of LCD and notebook applications sold to Dell.
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