Within the framework of the $3.785 Tuna Price-Fixing Class Action Settlement, Starkist and Lion Capital have reached an agreement to pay a settlement sum. Two of the most prominent tuna brands, along with other businesses, have been accused of conspiring to set and increase the pricing of packed tuna products that are suitable for food service.
When the distribution of the settlement money first starts, the persons and entities who buy the food service-size packed tuna products at the conspiratorially higher pricing will be eligible to receive the benefit of the settlement sum. The qualifying requirements, the amount of the payout, and the deadline for the filing of the claim form are some of the important elements and developments that are mentioned in this article about the Tuna Price-Fixing Class Action Settlement.
$3.875M Tuna Price-Fixing Class Action Settlement 2024
There are two major producers of tuna products in the United States of America: Starkist, an American company that was formerly based in Pittsburgh’s North Shore and is currently owned by Dongwon Industries of South Korea, and Lion Capital LLP, which was the previous owner of Bumble Bee. Both of these companies are based in the United States.
Between June 11, 2011, and December 31, 2016, Starkist and Lion Capitals were allegedly engaged in price-fixing and boosting the prices of specific Tuna goods, as stated in the class action complaint. In addition to that, other producers, such as DWI and Chicken of the Sea (COSI), which had previously been resolved, were also involved in the conspiracy to control prices for food service-size packaged tuna products.
Starkist and Lion Capitals LLP, two of the most prominent producers, were taken to court as a result of this situation since the consumers had to pay a higher price for these tuna goods. To end the class action case, the Tuna firms have agreed to pay a compensation of $3.875, even though they have denied any violation of the law.
Under the terms of the $3.875 million Tune Price-Fixing Class Action Settlement, individuals and businesses who bought items with increased prices are now eligible to receive a share of the settlement cash. To do this, the applicants need to submit the claim submission form before the deadline that has been specified. Preliminary approval of the settlement for the class action lawsuit has been granted, and the federal court of the country is currently considering the settlement.
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Overview of $3.875M Tuna Price-Fixing Class Action Settlement 2024
| Article title | $3.875 Tuna Price-Fixing Class Action Settlement |
| Country | The United States of America |
| Companies involve | Starkist, Lion, and many other |
| Category | Class action lawsuit settlement |
| Purpose | To compensate for class members |
| Applicable for | Eligible citizens of the United States |
| Final approval status | Pending |
| Settlement amount | $3.875 Million |
| Year | 2024 |
| Official website | www.packagedseafoodantitrustcfpclass.com |
Participation in the $3.875 Million Tuna Price-Fixing Class Action Collaborative Settlement
Under the terms of the $3.875 million Tuna Price-Fixing Class Action Settlement, individuals and businesses that made purchases of Food Service-size Packaged Tuna Products between June 1, 2011, and December 31, 2016, are eligible to receive compensation benefits.
Nevertheless, those individuals who have bought Tuna Products via wholesalers such as DOT Foods, Sysco, US Foods, Sam’s Club, Walmart, or Costco are qualified to receive the payout amount. The following states are the only ones in which the settlement is applicable, as the applicants are specifically advised:
- Arizona
- Arkansas
- California
- Florida
- Iowa
- Kansas
- Maine
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Nebraska
- Nevada
- New Hampshire
- New Mexico
- New York
- North Carolina
- North Dakota
- Oregon
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Utah
- Vermont
- West Virginia
- Wisconsin
Settlement Payment Amount details for the Class Action Case Concerning Tuna Price Fixing
With the $3.875 million A pro-rata portion of the settlement fund of the Starkist and Lion Capitals might be distributed to class members by the amount of money they have purchased as part of the Tuna Price-Fixing Class Action Settlement.
A settlement has been reached in which Starkist has agreed to pay $3.6 million, and Lion Capitals LLP has agreed to pay $275,000 as part of the agreement. Members of the class do not need to submit the claim submission form to be eligible for the benefit. All those individuals who have been sent a postcard displaying the worth of their qualifying purchase are eligible for this.
You are not eligible for the $3.875 million Tuna Price-Fixing settlement amount if, on the other hand, you have received a postcard that does not reflect a qualifying purchase value. This is the case until you complete a claim submission form before the deadline that has been established. On the other hand, if you do not agree with the purchase prices that were listed on the postcard, you have the option to object to the settlement of the class action lawsuit or to withdraw yourself from the settlement by the deadline of August 30, 2024.
$3,875,000 Both the deadline for submitting claims and the form for the Tuna Price-Fixing Class Action Settlement
To be eligible for the financial benefit that is being offered as part of the $3.875 million Tuna Price-Fixing Class Action Settlement, the claim submission form must be submitted by the deadline of August 30, 2024. Those individuals who submit their applications after the deadline may anticipate that their eligibility will be overlooked to collect the settlement sum. Since this is the case, it is recommended that you are aware of the deadline for filing the claim and receiving your share of the settlement sum.
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The complaint filed by the class action plaintiffs is now being heard in the federal court, and the final hearing is slated to take place on November 15, 2024. As of right now, the distribution dates have not been determined; however, it is anticipated that they will be disclosed following the beginning of the last year, which is in November of 2024.
Anyone who does not meet the requirements for the payment should refrain from filing since doing so might affect the eligibility of other members. For additional information and to fill out the claim submission form, you may also visit the official website of the Tuna Price-Fixing Class Action Settlement.
Conclusion
A big win for consumers, the $3.875 million settlement in the class-action case over the fixing of tuna prices is a severe reminder to firms that participate in unethical business activities while also being a substantial triumph for customers.
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This case demonstrates the significance of ensuring that there is consistent and fair competition in the market, as well as the role that legal proceedings play in protecting various consumer rights. When we consider the future, this settlement may lead the way for more accountability and transparency in a variety of businesses. This will ensure that customers are safeguarded against activities that are unfair in terms of price.
Calista Embry is a finance journalist who graduated from Johns Hopkins University. She has a passion for writing and researching the impact of finance on social life.