Bumble Bee Foods was coy in its reaction to the news that former CEO Chris Lischewski was found guilty of participating in a conspiracy to fix prices of canned tuna sold in the United States.
The company sent a statement that did not directly address the verdict, but instead repeated the exact announcement it made following last month's announcement that the company had filed for Chapter 11 bankruptcy in a Delaware court.
"It’s been a challenging time for our company and many in our industry but we’re looking forward not back," the company said in a statement.
Bumble Bee underlined its "unwavering commitment" to acting with integrity and transparency in every way its business operates.
Lischewski faces up to 10 years in prison and up to $10 million (€10.2 million) in fines. The sentencing will be conducted at a later date.
As the four week trial drew near to a conclusion Lischewski admitted to receiving non-public information from competitors through his employees in his testimony.
Previously, Lischewski testified he had no knowledge of price-fixing among the companies involved. However, the new testimony included an admission that he may have asked employees to gather details from Bumble Bee competitors.
Taiwan-based FCF Co Ltd, which has agreed to acquire the company’s assets for approximately $925 million (€835.5 million), declined to comment to IntraFish on the outcome of the case.