Two years after Bumble Bee Foods pleaded guilty to price-fixing, the canned tuna producer is in talks with FCF Fishery to buy it during a bankruptcy reorganization
in 2017 to conspiring with Starkist Co. and Chicken of the Sea Inc. to fix and raise prices of canned tuna in the United States from 2011 through at least late 2013. The company also agreed to cooperate with the antitrust investigation.
Bumble Bee flagged its financial distress during the case, arguing that the $81.5-million fine initially contemplated could push it into insolvency. The U.S. Department of Justice agreed, cutting the amount to $25 million and giving Bumble Bee an installment plan over several years that required no more than $2 million upfront.
Former Chief Executive Christopher Lischewski pleaded not guilty to related criminal charges in 2018, and his trial in California federal court began Nov. 4. The hearings have featured testimony from cooperating witnesses that include executives from Bumble Bee and its competitors. Starkist pleaded guilty to the price-fixing charges in 2018 and also agreed to cooperate. Chicken of the Sea, owned by Thai Union Group, received conditional leniency from the U.S. Department of Justice for its cooperation with the investigation and didn’t have to pay fines.
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