EU Hits Shrimp Traders With $39M In Price-Fixing Fines

Law360, New York (November 27, 2013, 2:00 PM EST) -- The European Commission on Wednesday announced that it has levied $39 million in fines against North Sea traders for operating a cartel to fix shrimp prices and share sales volume in Belgium, France and Germany for nearly a decade.

EC investigators determined that the traders Heiploeg BV and Kok Seafood — both of the Netherlands — and Germany's Stuhrk had coordinated their efforts to stabilize suppliers' market shares and drive up end prices, resulting in a violation of European Union antitrust laws. The commission also faulted Danish...
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