The U.S. Department of Justice agreed to lower the fine levied against Bumble Bee Foods for its role in a price-fixing scandal in part because a larger fine could lead to the companys insolvency, according to court documents filed last week.
In May, Bumble Bee pleaded guilty to fixing the price of canned tuna between 2011 and 2013. In exchange for cooperating in the Department of Justices investigation, the company received a reduction in its fine to USD 25 million (EUR 22.8 million), down from a maximum potential fine of much as USD 272.4 million (EUR 234 million). Bumble Bee also received partial immunity from further prosecution of either the company or its current executives.
The USD 25 million fine represents a reduction below the gui…
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