Tag Archives: Price-Fixing Scheme

Bumble Bee Foods to File Bankruptcy, Sell Assets to Taiwanese Firm

Bumble Bee Foods announced Thursday it will file for bankruptcy and sell its assets to a Taiwanese company for $925 million. The bankruptcy sale comes in the aftermath of criminal fines and civil lawsuits against the San Diego company in the wake of a federal price-fixing case. “It’s been a challenging time for our company but today’s actions allow us to move forward with minimal disruption to our day-to-day operations,” said Jan Tharp, president and chief executive officer. >click to read< 16:53

Starkist Hit With $100M Fine in Seafood Price-Fixing Scheme

Starkist must pay a $100 million criminal fine for conspiring to fix packaged seafood prices, a federal judge ruled Wednesday, despite arguments it could bankrupt the company or cause its employees to lose jobs. “I think it’s in the interest of the economy not to bankrupt Starkist, but the court has the leverage to extend the payments out,”,,  Starkist general counsel and senior vice president Robert Scott Meece said the company has about 100 employees at its Pittsburgh headquarters and 2,100 working at a factory in American Samoa. “These employees have had this hanging over their heads for a long time,” >click to read< 12:00