StarKist announced late Friday, January 25, that it has agreed to a settlement worth US$20.5 million with Walmart to resolve antitrust claims. Pittsburgh-based Starkist noted that Walmart is the largest retailer for canned tuna in the United States, making a deal with the Arkansas-based company critical.
“StarKist is pleased to resolve this matter with our valued customer, Walmart. The resolution is a business-oriented and reasonable one, which sets a benchmark for resolving remaining matters with our other valued customers,” said Scott Meece, StarKist’s general counsel and senior vice president, in the official announcement.
Starkist, owned by South Korean parent Dongwon, is one of three major tuna suppliers who have been investigated for price-fixing in recent years. The US Department of Justice has been looking into allegations that StarKist, Bumble Bee Foods, and Tri-Union Seafoods, which owns Chicken of the Sea, conspired to keep prices artificially high.
Full Content: Pittsburgh Post-Gazette
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI