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SAN FRANCISCO (AP) – A San Francisco federal judge has fined StarKist Co. $ 100 million for a conspiracy to fix canned tuna prices involving three companies.
The Pittsburgh-based company has asked Judge Edward Chen of the US District Court to reduce the fine to $ 50 million, saying a $ 100 million fine could result in bankruptcy because it still risk millions of additional civil damage.
Chen announced on Wednesday that the court had concluded that the company had the assets and the ability to borrow money to pay the fine.
Chen ordered the company to pay $ 5 million within 30 days and $ 11 million next year. Starting in 2021, the company will have to pay $ 21 million a year for four years.
Last year, StarKist pleaded guilty to a charge of setting the price of the crime as part of an extensive investigation into the collusion.
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