Class Action Settlement for Packaged Tuna Purchasers Explained
![Class Action Settlement for Packaged Tuna Purchasers Explained](https://investorshangout.com/images/blog/ihnews-Class%20Action%20Settlement%20for%20Packaged%20Tuna%20Purchasers%20Explained.jpg)
Details of the Packaged Tuna Class Action Settlement
If you purchased Packaged Tuna products from well-known brands, you might be part of a significant class action settlement. This legal decision arose from allegations surrounding the pricing behavior of major tuna producers.
Understanding the Case Background
In a legal dispute known as In Re: Packaged Seafood Products Antitrust Litigation, a number of companies including Tri Union Seafoods, Thai Union Group, Bumble Bee Foods, and StarKist were named as Defendants. Plaintiffs, representing direct purchasers, claimed that these companies conspired to manipulate market prices, resulting in consumers paying inflated prices for packaged tuna products.
Who are the Defendants?
The Defendants involved in this case are key players in the packaged seafood industry. They include:
- Tri Union Seafoods LLC, doing business as Chicken of the Sea International
- Thai Union Group PCL
- Bumble Bee Foods LLC
- StarKist Company
- Dongwon Industries Co., Ltd.
- Various Lion Capital companies
What prompted the settlement?
While the Defendants have denied any wrongdoing, they opted to settle in order to avoid further litigation costs and uncertainties. The agreed settlement amounts to $38.65 million in cash, in addition to $26.1 million in packaged tuna products to be distributed among qualifying class members.
Who Can Participate in the Settlement?
To be eligible for the benefits of this settlement, you must have directly purchased packaged tuna products (excluding tuna salad kits and cups) from any involved Defendant between June 1, 2011, and July 31, 2015. Exclusions apply to governmental entities, employees of the Defendants, and specific purchase types.
Potential Settlement Benefits
The benefits available to qualifying members include cash distributions and free packaged tuna products, although the specific amount each person receives will depend on the number of claims filed and the overall size of valid claims. Some funds will also be allocated for administrative costs related to the claims process.
How to File a Claim
If you are eligible, you need to submit a claim by the specified deadline. Those who previously filed claims in related settlements need not file again. Claims can be filed online or by mail. Ensure that all claims are verified, as individual benefits depend on the number of valid claims.
Legal Representation and Fees
Hausfeld LLP has been appointed as class counsel. You won’t incur out-of-pocket legal fees, as these will be paid from the settlement funds. The attorneys’ fees must also receive Court approval.
What Are Your Rights as a Class Member?
As a member of this settlement class, you have several options. If you do nothing, you remain a member but may not receive the benefits unless you had already submitted a prior claim. You can also object to the proposed settlements or file a new claim if you are eligible.
Upcoming Fairness Hearing
The Court will hold a hearing to decide on the fairness of the settlements. It will evaluate all objections and determine if the settlements should be approved. Participation in this hearing is optional.
Frequently Asked Questions
1. Who is eligible for the settlement?
Individuals or businesses that directly purchased packaged tuna products from the Defendants between the specified dates are eligible.
2. How much will I receive as part of the settlement?
The amount varies and is based on the total number of valid claims and the volume of commerce.
3. When is the deadline to file a claim?
The deadline for submitting a claim is October 18, 2024.
4. Can I object to the settlement?
Yes, class members can express their concerns about the proposed settlements in writing to the Court.
5. What happens if I don’t file a claim?
You will not receive any benefits if you do not file a claim unless you were part of a previous related settlement.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Felo AI Launch: Transforming Search with Language Innovation
- ASLA Unveils Transformative 2024 Professional Awards Winners
- Court TV Announces Exciting Fall Primetime Lineup for 2024
- Mediaspace.global Launches Changemakers' Summit for 2024
- MALK Organics Launches Almond Pumpkin Spice for Fall 2024
- Accorto Regulatory Solutions Partners with GINN for Tobacco Safety
- Carterra Ultra™: Transforming Drug Discovery with Precision
- Opus IVS DrivePro 2 Achieves Motor Top 20 Award for 2024
- Autograph Revolutionizes Sports Fandom with New Platform
- Attain Capital Welcomes Former NASA CIO Renee P. Wynn
- ICEYE and Aon Join Forces to Boost Flood and Wildfire Response
- Philadelphia Fed Initiates Search for New President Following Harker
- Blaze Mota Unveils THC-Infused Mota'lada for Everyone
- Adam Neumann and Ryan Serhant to Speak at South Florida Forum
- Growth Prospects for Global Furniture Fittings Market Ahead
- Industrial Cooling Systems Market Set for Remarkable Growth
- Tarkett Receives Platinum Medal from EcoVadis for Sustainability
- Integra LifeSciences Prepares for 2024 Wells Fargo Event
- Gong Named Leader in Revenue Orchestration Platforms by Forrester
- Microban International Partners with CiCLO for Sustainable Textiles
- Autoinjectors Market Forecast to Reach USD 3.02 Billion by 2030
- Middie Rising: A New Narrative for Schools in Transition
- Insider Buying: Two Stocks to Watch for Potential Gains
- Join Us for the 2024 AvaSure Symposium Celebrating Virtual Care
- Yaber Unveils K3 Series Projectors for Home Entertainment
Recent Articles
- Dandy® Celery Innovates Back-to-School Snacking Options
- Introducing ISU Steadfast: A New Era in Insurance Networks
- Exploring Investment Opportunities in AI: SoundHound and Symbotic
- Davidson Kempner Discloses Stake in International Paper Co.
- Yaber Unveils K3 Series Home Theatre Projector at IFA 2024
- Jefferies Predicts Strong ETF Inflows in Second Half of 2024
- Synthetic Biology Market Growth Forecast: US$ 126.9 Billion by 2034
- Senior Insurance Solutions Partners with Integrity for Growth
- TrustGrid Partners with Department of Air Force for Innovation
- African Leaders Forge Pragmatic Ties with Chinese Localities
- Trillion Energy Reports Record Production and Revenue Growth
- Join New Eagle's Raptor Innovation Summit for Industry Insights
- Cyclacel Pharmaceuticals to Participate in Global Investment Conference
- Educating Investors on 721 Exchange UPREIT Strategies
- SeaStar Medical Eliminates Long-Term Debt to Enhance Growth
- iMD Companies Expands Riize Product Line with New Offerings
- Montana Technologies Partners with Clairity for Climate Solutions
- Exploring the Promising CD47 Inhibitor Drug Market Growth
- American Rare Earths Accelerates Halleck Creek Development Plans
- MARA Reports August Mining Updates and Bitcoin Production
- Bob Evans and Thomas' Join Forces for Breakfast Month Promo
- Brandon XIV's Groundbreaking Spoken Word Poetry Album: One Year
- Lyft to Streamline Operations by Selling Bike and Scooter Assets
- Aqua-Tots Swim School Launches First Location in New York
- Vesalio's pVasc Thrombectomy System Transforms Patient Care