Executives of the most popular tuna brands in the US — Chicken of the Sea, Bumble Bee and StarKist — conspired regularly to keep prices high for consumers with a taste for one of America’s favorite sandwich ingredients, according to criminal and civil court records updated this week.
A typical can of tuna today costs about $1.50 and the US Department of Justice says that price may be the result of price fixing by Thai, South Korean and US seafood dealers, while major retailers are suing alleging they’ve been ripped off.
The US government began investigating criminal price fixing between the three companies more than two years ago.
Together the companies supply about 80 percent of the $1.7 billion of canned tuna sold annually in the United States, according to the court records.
However, Wal-Mart and other top retailers filed civil lawsuits.
Full Content: Click On Detroit
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Plaintiffs Seek Communications In Antitrust Case Against Pioneer
May 9, 2024 by
CPI
UK Government Approves Vodafone-Hutchison Merger
May 9, 2024 by
CPI
Senate Majority Leader Announces Plan for AI Regulation Framework
May 9, 2024 by
CPI
BBVA Initiates Aggressive Takeover Bid for Sabadell
May 9, 2024 by
CPI
TikTok to Label AI-Generated Content Amid Election Interference Concerns
May 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI