Fresh Del Monte Settles Banana Conspiracy Claims

Law360, New York (June 27, 2007, 12:00 AM EDT) -- Fresh Del Monte Produce Inc. has settled two class action lawsuits that accused the company of engaging in a conspiracy with other producers to drive up the price of bananas.

The settlement, which still needs court approval, came in the wake of an investigation by the European Commission in alleged anti-competitive behavior in the market for bananas.

Fresh Del Monte will pay no more than $2.5 million to a class of direct purchasers of bananas and its attorneys, according to a company press release. As part...
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