Grieg Seafood Archives - Saving Seafood

EU pleads with US judge to limit discovery in salmon price-fixing class-action lawsuit

July 21, 2021 — The European Union has not issued any public comment regarding its antitrust investigation into Norwegian salmon farmers for more than a year, but on 13 July, it made clear its inquiry is still active.

In a brief filed in the U.S. District Court in the Southern District of Florida, the European Commission contended that a class-action suit filed on behalf of U.S. purchasers of Norwegian farmed salmon in 2019 is interfering with its investigation. The lawsuit accuses Mowi, SalMar, Lerøy Seafood, Grieg Seafood, and Cermaq Group of exchanging competitively sensitive information among themselves, with the aim of artificially controlling the price of farm-raised salmon sold in the United States.

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2025 global salmon growth forecasts overestimated, new paper argues

December 17, 2019 — Global salmon growth forecasts to 2025 could be overestimated by 6 to 8 percent, according to a new briefing paper from financial think tank Planet Tracker. The culprit is global warming, the paper argues.

In “Salmon Feels the Heat,” researchers analysed reported fish losses attributed to recurring environmental shocks over the past nine years, as reported by the 10 largest publicly listed salmon producers in Norway, Chile, and the United Kingdom. They found that the aggregated production and earnings losses relative to forecast production reached 5 percent for the period between 2010 to 2019.

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More Norwegian salmon producers receive subpoenas in US DOJ antitrust investigation

November 15, 2019 — Lerøy Seafood, Grieg Seafood, and SalMar each received subpoenas from the U.S. Department of Justice (DOJ) on Friday, 15 November, according to press releases from the three Norwegian salmon farming firms.

The subpoenas are part of a criminal investigation by the DOJ’s Antitrust Division into allegations of price-fixing in Norway’s farmed-raised salmon industry, according to the releases.

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US companies file class-action suit alleging price-fixing by Norwegian farmed salmon firms

April 25, 2019 — A class-action lawsuit filed on behalf of U.S. direct purchasers of Norwegian farmed salmon is accusing multiple Norwegian firms including Mowi, Grieg Seafood, Lerøy Seafood, and SalMar of conspiring to fix the prices of farmed salmon.

The lawsuit, filed on Tuesday, 23 April, alleges the major players in Norway’s farmed salmon industry exchanged competitively sensitive information among themselves, with the aim of artificially controlling the price of farm-raised salmon bought by U.S. seafood buyers, a violation of the Sherman Anti-Trust Act.

The lawsuit is largely based on an ongoing investigation by the European Commission into “suspected anti-competitive practices” in the farmed Atlantic salmon sector in Europe, first made public in February 2019. The investigation included raids by E.C. officials of the Scottish and Dutch corporate offices of several seafood companies based in Norway, including Mowi, Grieg Seafood, Lerøy Seafood, and SalMar.

A letter sent by the E.C. to one of the companies, obtained by SeafoodSource, revealed the E.C. approved a decision on 6 February, 2019, to investigate information received “from different actors operating at different levels in the salmon market” alleging that some Norwegian producers “participate or have participated in anti-competitive agreements and/or concerted practices related to different ways of price coordination in order to sustain and possibly increase prices of farmed Norwegian Atlantic salmon.”

The lawsuit was filed in U.S. District Court in the Southern District of Florida (Miami Division) on behalf of Mentor, Ohio-based Euclid Fish Company, according to Arthur Bailey of Hausfeld LLP, one of the plaintiffs’ attorneys. Numerous other similar suits have and will continue to be filed containing similar allegations, including by Schneider’s Seafood & Meats of Cheektowaga, New York, and by Euro USA Inc. of Cleveland, Ohio, Bailey told SeafoodSource. Within the next month, the cases will be combined into one larger class-action suit including all direct purchasers of Norwegian farmed salmon, Bailey said. The case will be heard by James Lawrence King.

Read the full story at Seafood Source