EU Fines Dole, Others $80M For Fixing Banana Prices

Law360, New York (October 15, 2008, 12:00 AM EDT) -- The European Union will impose fines of €60.3 million ($80.39 million) on banana importers Dole Food Co. Inc. and Weichert & Co. KG for participating in a price-fixing cartel with Chiquita Brands International, the EU's executive body announced Wednesday.

The companies could also be subject to civil lawsuits under EU competition and consumer-protection regulations as a result of the decision, the European Commission said.

Chiquita was granted immunity from fines because it initially reported the cartel, which EU alleged was coordinating banana prices in eight European...
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