StarKist has agreed to plead guilty to price fixing.
Federal prosecutors announced the plea agreement Thursday and said the company faces a fine up to $100 million.
Published 19 Hours Ago Updated 11 Hours AgoThe Associated Press
Link to article: https://www.cnbc.com/2018/10/19/starkist-admits-fixing-tuna-prices-faces-100-million-fine.html
Danny Johnston | AP
Starkist Tuna products sit on a shelf in a Little Rock, Ark., food warehouse.
Authorities say StarKist has agreed to plead guilty to price fixing as part of a broad collusion investigation of the canned tuna industry.
Federal prosecutors announced the plea agreement Thursday and said the company faces a fine up to $100 million. Bumble Bee Foods last year pleaded guilty to the same charge and paid a $25 million fine.
Chicken of the Sea has not been charged because prosecutors say the company exposed the scheme and co-operated with the investigation.
Two former Bumble Bee executives and a former StarKist executive also each pleaded guilty to price-fixing charges.
Former Bumble Bee chief executive Christopher Lischewski has pleaded not guilty to a price fixing charge.
The three companies are accused of conspiring to keep canned tuna prices artificially high between 2010 and 2013.