Farm-raised salmon and salmon products

Hausfeld served as court-appointed interim Co-Lead Counsel in a class action litigation alleging that major producers of farm-raised Atlantic salmon conspired to fix prices for salmon sold in the United States. The litigation followed investigations into suspected anti-competitive coordination among companies operating across the global farm-raised salmon supply chain.

Background

Farm-raised Atlantic salmon is one of the most widely consumed seafood products in the United States, with much of the supply originating from large international producers based in Norway and other countries. In February 2019, reports emerged that the European Commission had received information indicating that companies operating at various levels of the farm-raised salmon production and distribution chain may have engaged in anti-competitive agreements and coordinated practices designed to stabilize and increase the prices of Norwegian salmon.

The alleged conduct involved some of the largest producers and distributors of farm-raised Atlantic salmon supplying the U.S. market. Plaintiffs alleged that these companies formed a cartel that artificially inflated prices for salmon products entering commerce in the United States, harming direct purchasers who paid supracompetitive prices. The alleged conspiracy affected sales during a class period extending from April 2013 to 2019.

Action

Hausfeld filed the first class action complaint on April 23, 2019, and was subsequently appointed interim Co-Lead Counsel in the litigation. Hausfeld and co-counsel later filed a consolidated complaint naming major salmon producers and distributors as defendants, including Mowi ASA, Grieg Seafood ASA, SalMar ASA, Lerøy Seafood AS, Cermaq Group AS, and affiliated companies operating throughout the production and supply chain.

Plaintiffs alleged that the defendants coordinated pricing and supply practices to stabilize and increase the price of farm-raised Atlantic salmon sold in the United States. In November 2019, the United States Department of Justice commenced a criminal investigation into several of the defendants relating to the alleged conduct.

The litigation proceeded before the Honorable Cecilia M. Altonaga in the U.S. District Court for the Southern District of Florida. Following limited discovery, plaintiffs filed a Second Consolidated Amended Complaint in October 2020. In March 2021, the court denied the defendants’ motion to dismiss, allowing the case to proceed into extensive discovery.

Outcome

Following extensive discovery and litigation, Hausfeld secured an $85 million settlement in June 2022 on behalf of the plaintiff class. The settlement resolved claims that the defendants conspired to fix prices for farm-raised Atlantic salmon sold in the United States. The court granted final approval of the settlement on September 8, 2022.