Bumble Bee Foods agrees to plead guilty to price fixing
According to a one-count felony charge filed today in the U.S. District Court for the Northern District of California in San Francisco, Bumble Bee and its co-conspirators agreed to fix the prices of shelf-stable tuna fish from as early as the first quarter of 2011 through at least as late as the fourth quarter of 2013.
In addition to agreeing to plead guilty, Bumble Bee has agreed to pay a $25 million criminal fine, which will increase to a maximum criminal fine of $81.5 million, payable by a related entity, in the event of a sale of Bumble Bee subject to certain terms and conditions.
Bumble Bee has also agreed to cooperate with the Antitrust Division’s ongoing investigation. The plea agreement is subject to court approval. ■