South African Fishery Fined $4.3M For Price-Fixing Scheme

Law360, New York (May 9, 2012, 2:29 PM EDT) -- Oceana Group Ltd. has paid a $4.3 million penalty to settle allegations that it conspired with other fishing companies to fix prices in the industry, South Africa's antitrust regulator announced Wednesday.

The South Africa Competition Commission said Oceana has copped to working together with competitors to set the prices of both the goods they sold to customers and the wages they paid to vessel owners that caught fish for the companies.

Oceana’s penalty represents 5 percent of the revenue the fish harvester earned in 2010 from...
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