August 23, 2023 — A federal judge has ruled former Bumble Bee Foods owner Lion Capital can be held liable in a civil lawsuit alleging it was involved in a price-fixing conspiracy involving the so-called “big three” U.S. tuna companies – Bumble Bee, Starkist, and Chicken of the Sea.
The U.K.-based private equity firm purchased Bumble Bee in 2010 and operated it until it was sold out of bankruptcy to FCF Co. in 2019, following its guilty plea to a charge of price-fixing, forcing it to pay a USD 25 million (EUR 22.6 million) fine and millions more in civil damages.