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Industry settlement in US civil anti-trust litigation

Reference is made to the previously disclosed class-action complaints in the US against Cermaq and five other producers and/or sellers of Norwegian salmon (together with certain of their subsidiaries) (collectively referred to as the Defendants), over claims concerning anti-competitive behaviour. While all Defendants reject that there is any basis for the claims and consider the complaints to be entirely unsubstantiated, all Defendants in the US class action related to the direct purchaser case have now, following a mandatory mediation procedure, accepted a settlement offer from the direct purchaser plaintiffs subject to approval by the court of Southern District of Florida. The total settlement amount for all Defendants is USD 85 million.

All Defendants expressly reject the allegations regarding anti-competitive behaviour and strongly believe that the antitrust claims lack merit. Given that the costs of litigation in the US are substantial, coupled with the timeline for any litigation and required engagement of extensive internal resources, Cermaq has nonetheless agreed to a settlement for pure commercial purposes. The settlement does not involve any admission of liability or wrongdoing.

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Lars Galtung

Lars Galtung

Press contact Director of Sustainability and Communication +4798214812

Sustainable aquaculture

Cermaq is a world leading producer of sustainable salmon and trout with operations in Chile, Canada and Norway. Cermaq supplies salmon to customers in more than 70 countries around the world, and has annual revenues of around NOK 10 billion. The company has more than 4000 employees, and is a fully owned subsidiary of Mitsubishi Corporation with head office in Oslo, Norway. Cermaq’s approach to sustainability is based on the pillars of transparency, partnerships and performance. Cermaq is the first business partner and founding patron to the UN Global Compact Action Platform for Sustainable Ocean Business.

Cermaq
Dronning Eufemias gate 16
0191 Oslo
Norge