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$25 Million Criminal Fine for Seafood Price Fixing

Wednesday, May 10, 2017
Sandler, Travis & Rosenberg Trade Report

The Department of Justice reports that a U.S. company has agreed to plead guilty and pay a $25 million criminal fine for its role in a conspiracy to fix the prices of shelf-stable tuna fish such as canned and pouch tuna. This fine will increase to a maximum of $81.5 million, payable by a related entity, if the company is sold.

The company has also agreed to cooperate with the DOJ’s ongoing antitrust investigation into the packaged seafood industry, which has previously yielded charges against two of the company’s executives. A CNN article cites a company official as saying that in response the company has taken remedial measures such as hiring a chief compliance officer and revising its internal policies.

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