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StarKist reaches $20m settlement with Walmart over price-fixing claims

Cans of StarKist Light Chunk Tuna
Source: Undercurrent News

Pittsburg, PENNSYLVANIA — StarKist Co. has entered into a settlement agreement with Walmart resolving all antitrust claims brought by the retailer over the US shelf-stable seafood supplier's role in a tuna price-fixing cartel. 

The StarKist portion of the settlement is valued at $20.5 million, based on a combination of cash payment and certain favorable commercial terms, which will further strengthen the business relationship between the two companies, StarKist, which is owned by South Korea's Dongwon Industries, said.

"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. 

"StarKist is committed to being a socially responsible company and we are pleased to resolve this lawsuit with our largest customer under fair and reasonable terms," said Andrew Choe, president and CEO of StarKist.  "We will continue to conduct our business with the utmost transparency and integrity, and we hope to resolve the remaining lawsuits with our other customers under similarly fair and mutually beneficial terms."

The StarKist settlement with Walmart comes after Thai Union Group's Tri-Union Seafoods, the owner of the Chicken of the Sea tuna brand, also settled with the retailer last year

Then, earlier this year, Tri-Union announced an agreement with 29 mid-sized and large retailers which accused the company of conspiring to fix prices at an artificially high level.

Civil lawsuits from dozens of wholesalers, retailers and individuals across the US allege that the plaintiffs were overcharged by a long-running price-fixing conspiracy involving Tri-Union, Bumble Bee Foods -- which has pleaded guilty as part of the DOJ probe -- and StarKist.

Read more at Undercurrent News