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Sunday, Sep 24, 2023

EU Court Upholds Dole Price-Fixing Fine

A judgment of more than $59 million against Dole Food Co. Inc. was affirmed Thursday by a European Union court. The Westlake Village company, and several other produce firms, was fined by the European Union in a 2008 case that alleged the companies fixed banana prices in eight countries within the Union about 10 years ago. Dole appealed the case to the EU General Court, which upheld the decision by the European Commission. “We strongly believe that the European competition laws were not violated,” said Dole Chief Operating Officer C. Michael Carter, in a statement. “The general court’s decision treats discussions about general market conditions the same as a price-fixing cartel Dole has announced that it will appeal the latest decision to the higher EU Court of Justice in Luxembourg. Shares gained 17 cents, or about 1.6 percent, to close at $10.84 on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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