Norwegian salmon companies agree to 817 million kroner settlement in the USA

Salmon farmingPhoto: Terje Bendiksby / NTB
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Mowi, Lerøy, Salmar, Grieg Seafood, and two other Norwegian salmon companies entered into a settlement in the USA. In total, they will pay around NOK 817 million.

The settlement comes after allegations of anti-competitive behavior, according to E24. The companies were sued in 2019 for “illegal coordination” in a US mass lawsuit.

The settlement is subject to approval by a Florida court.

The companies state in stock exchange announcements that they believe there is no basis in the claims against them but that they have nevertheless agreed to a settlement.

“Not an admission of guilt”

“All the defendants firmly reject the accusations of anti-competitive behavior and are of the clear opinion that the allegations are unfounded,” the stock exchange announcement from SalMar noted.

They justify the decision to accept a settlement as follows:

“Considering that the costs associated with litigation in the United States are significant, combined with the timeline for such litigation and the need to involve extensive internal resources, SalMar ASA has nevertheless accepted a settlement for purely commercial reasons. The settlement does not represent an admission of responsibility or guilt,” it is stated. 

Source : © NTB Scanpix / #Norway Today / #NorwayTodayNews

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