Bumble Bee Foods agreed to plead guilty to a one-count violation of the Sherman Antitrust Act for its role in a conspiracy to fix the prices of packaged seafood sold in the United States. 

The tuna giant agreed to pay a heavily reduced $25 million (€21.1 million) criminal fine, which will increase to a maximum fine of $81.5 million (€68.7 million) to be paid by Big Catch Cayman, a related entity, only in the event of a sale of Bumble Bee subject to certain terms and conditions.

Both fine amounts are below the guidelines fine range.

The $25 million fine represents a reduction below the guidelines fine range due to Bumble Bee’s inability to pay a full criminal fine without substantially jeopardizing the continued viability of the organization.

The $81.5 million fine represents a reduction due to Bumble Bee’s substantial assistance in the ongoing packaged-seafood investigation, but without an inability-to-pay reduction.

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Bumble Bee has provided significant assistance in furthering the investigation of the price-fixing conspiracy in the packaged-seafood industry, a conspiracy to which three executives have pleaded guilty.

Bumble Bee accepted responsibility for its criminal conduct, acknowledged its wrongdoing, and pledged to provide continuing cooperation in the ongoing investigation, according to court documents.

US District Judge Edward M. Chen noted the reports at Wednesday's hearing, suggesting that rejecting the deal "could lead to worse things, including no collection at all by the government," reports Law360.

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