Bumblebee Plea Agreement

Chicken Processor Pilgrim`s Pride Corp. said it has agreed to a plea with the U.S. Department of Justice to resolve price fixing fees, and will pay a $110.5 million fine. „We are pleased that today`s agreement concludes the investigation of the Pilgrim Cartel Department and provides security to our team members, suppliers, customers and shareholders in this matter,“ said Fabio Sandri, CEO of Pilgrim. Authorities say StarKist has agreed to plead guilty to price deals as part of a wide-ranging collusion investigation by the industry. Lisa Poole/AP hide caption A plea between federal authorities and Walter Scott Cameron will allow the former sales manager of Bumble Bee Foods to evade the maximum possible penalties after pleading guilty to taxing the prices of canned tuna sold in the United States between 2011 and 2013. Pilgrim said the plea agreement provided that the Justice Department would not lay additional charges against the Colorado-based company, and did not recommend an external compliance monitor. The agreement does not require any refund or trial period, the company said. StarKist`s advocacy comes amid a government investigation into the tuna canning industry, which has been ongoing since at least 2015. StarKist and Bumble Bee, as well as The Chicken of the Sea, are accused of conspiring to set prices. In total, brands control about 80% of the U.S.

canned tuna market. The agreement provides that Cameron will testify if the inquest leads to a grand jury, trial or other trial. He will not be sentenced until the prosecutors deem his cooperation over and may decide to terminate the terms of the plea at any time. The AP news agency reports that on Thursday, a former StarKist executive pleaded guilty to agreeing on the awards, as well as two former Bumble Bee executives. Federal lawyers announced the plea deal on Thursday, which includes a fine of up to $100 million, according to The Associated Press. In the same agreement, a former StarKist executive and two former Bumble Bee Foods executives pleaded guilty to price cartels. StarKist Co. reportedly agreed to plead guilty in a conspiracy with two of its competitors to keep the price of canned tuna high. Bumble Bee Foods has agreed to plead guilty to one count of price cartel and pay a $25 million (22.8 million euro) fine for its alleged role in the conspiracy to fix the cost of tuna in the United States and tuna in sachets, the U.S. Department of Justice said in a statement released on May 8. Last year, Bumble Bee pleaded guilty to setting us prices between 2011 and 2013 and paid a $25 million fine. A week after Bumble Bee`s plea, Walmart claimed in a complaint that the company was part of a conspiracy with the other two tuna canning companies.