> Bumble Bee CEO indicted for tuna price-fixing scheme

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Phillip_McCavity
#1 2018-05-17 02:18:23

Bumble Bee CEO indicted for tuna price-fixing scheme



http://money.cnn.com/2018/05/16/news/co … index.html

The Bumble Bee CEO has been charged with conspiring to inflate tuna prices.

A federal grand jury indicted Christopher Lischewski, the CEO of Bumble Bee Foods, in connection with a packaged seafood price-fixing scam.

The Department of Justice alleges that Lischewski met and communicated with rival seafood companies to keep tuna prices artificially high. Although the Justice Department doesn't name the co-conspirators, major grocery chains, including Walmart (WMT), Kroger (KR) and Albertsons, sued Bumble Bee, Starkist and the maker of Chicken-of-the-Sea in 2016 for fixing prices.

The complaint alleges that Lischewski conspired with the other companies between November 2010 until December 2013. He is the fourth individual charged in a federal probe into the industry.

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