Class Action

EU Fines Dole and Fresh Del Monte for Banana Price-Fixing

By classlawblog

The Los Angeles Times reports that European Union (EU) regulators have fined Dole Food Co. and Fresh Del Monte Produce Inc. 60.3 million euros ($82 million) for allegedly fixing prices of imported bananas from 2000 to 2002. The EU?s decision comes after a three-year probe of banana imports in eight countries, including Austria, Denmark, and Germany. According to the article, Chiquita Brands International Inc. was able to avoid fines because it informed the EU regulators that some of its employees shared pricing and volume information with competitors and may have violated EU competition law.

Full post as published by ClassLawBlog.com on October 20, 2008 (boomark / email).