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Food News


THIS SECTION IS FOR NEWS AND INTERESTING STORIES RELATED TO FOOD, NUTRITION AND FOOD PROCESSING. THEY ARE NOT NECESSARILY RELATED TO KOSHER BUT MAY BE OF INTEREST TO THE KOSHER CONSUMER, MANUFACTURER OR MASHGIACH.

StarKist to Court: Fine Will Break Us

August 9, 2019 from Food Processing News
"StarKist’s lawyer says it can’t afford the criminal fine and other financial consequences of its price-fixing, and may go bankrupt if it tries to pay."
"StarKist agreed last fall to plead guilty to price-fixing charges brought by the U.S Justice Department against it and competitors. The suit charged that the companies planned “to fix, raise and maintain” the cost of canned tuna and other seafood, but the charging papers did not give details."
Starkist's lawyer "Lynch complained to the federal judge overseeing the case that the government was inflexible in its demand for the $100 million maximum fine. He asked that the fine be reduced to $50 million to help StarKist avoid bankruptcy and pay potential creditors in the civil cases."
"A Justice Department lawyer suggested that StarKist could sell or borrow against a packaging subsidiary owned by its parent company, but StarKist maintains it is unable to do so."
"Bumble Bee Foods, a StarKist competitor caught in the price-fixing case, is having trouble paying its fine of $25 million. The company has hired a turnaround firm to help it restructure its debts."

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