Bumble Bee, StarKist, and Chicken of the Sea are paying the price for concocting a major price fixing scheme in the tuna industry. Bumble Bee and StarKist pleaded guilty to criminal price fixing. Chicken of the Sea received leniency for blowing the whistle on its co-conspirators, but reportedly paid over forty million dollars to settle claims brought by retailers. Bumble Bee filed bankruptcy in November, and its former CEO was convicted of criminal price fixing in early December.
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There's Something Fishy in the Tuna Business
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Former Bumble Bee Foods LLC Chief Executive Officer Chris Lischewski was convicted in a price-fixing conspiracy, capping a yearslong U.S. investigation that shook the packaged seafood industry and pushed Bumble Bee into bankruptcy last month.
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