MJP –
For consumers who bought a particular product within a particular time, the world-famous grocery store chain Walmart has some big news to share.
Two corporations selling canned foods were found guilty of a violation in a lawsuit that followed this announcement.
Notably, StarKist and Lion Capital have been charged with fixing prices for other brands of canned tuna and selling it at exorbitant costs. People said the two businesses were conspiring to charge exorbitant rates for these tuna products.
This settlement will benefit whom?
Those who shopped for canned tuna at Walmart from June 2011 through December 2016 will get a check from this settlement. Also eligible for compensation are customers who purchased these products from other retailers like US Foods, Costco, and Sam’s Club.
Regarding the Settlement
The tuna businesses settled the case for a significant sum, even though they did not acknowledge any wrongdoing.
There will be a total settlement of $3.6 million USD.
While StarKist will cover the bulk of the amount, Lion Capital will only pay $270,000.
Although the corporations have not admitted guilt, the choice to settle with a multimillion-dollar settlement is somewhat surprising.
An important step toward resolving consumer complaints about the alleged price-fixing conspiracy has been this settlement.
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The multimillion-dollar settlement that these companies are facing may pay out to customers who bought canned goods from them within the specified periods. Nonetheless, a letter explaining the issue should have arrived in your mailbox.
The Social Responsibility Initiative at StarKist
A press announcement from StarKist’s CEO read: “The company is pleased to resolve this claim with our largest customer on fair and reasonable terms. We are committed to being socially responsible.”
Criminal probe by the US government
The Department of Justice’s Antitrust Division spearheaded the inquiry, which commenced in 2015. Due to monopolistic activities and price fixing, the corporations were subject to a substantial lawsuit that impeded free competition.
