The CEO of Bumble Bee Foods is accused of price fixing
A federal grand jury has indicted the CEO and president of Bumble Bee Foods in California this week on charges that he conspired to fix the prices of packaged seafood that was sold in USA, said the Department of Justice on Wednesday.
Bumble Bee, based in San Diego, pleaded guilty a year ago to a criminal charge of conspiring to fix tuna prices. That follows earlier similar charges against three StarKist tuna executives.
The Department of Justice alleged Lischewski and others conspired to issue price announcements and guidance to fix, raise and maintain the price of tuna from 2011 through 2013.
We might've dubbed 2017 the Year of Epic Protein Collusion: throughout much of it, we were chasing the seemingly endless rollout of price-fixing conspiracy allegations and class-actions against the poultry industry.
Lischewski's attorney, John Keker, said his client has lived a hardworking and ethical life and is innocent. "When the facts are known and the truth emerges, Mr. Lischewski will be found not guilty, and that vindication will rightfully restore his good name".
If convicted, he faces a potential 10-year prison sentence, a $1 million fine, and other penalties.
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'American consumers deserve free enterprise, not fixed prices, so the department will not tolerate crimes like the one charged in today's indictment, ' said Assistant Attorney General Makan Delrahim.
Lion Capital acquired Bumble Bee Food in 2010.
According to documents filed December 29 in the US District Court for southern California, Lion Capital allegedly paid off Lischewski to take the heat in the ongoing class action tuna price-fixing lawsuit.
The market for canned tuna across the USA has been dominated for a long time by just three companies.
The Department of Justice alleges that Lischewski met and communicated with rival seafood companies to keep tuna prices artificially high.
As part of its guilty plea, Bumble Bee has agreed to pay a $25m criminal fine, which will increase to a maximum criminal fine of $81.5m, payable by a related entity, in the event of a sale of the company subject to certain terms and conditions. Nine current or former Bumble Bee executives, including Lischewski, are on one such list.
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