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Canada prosecutors stay price fixing charges against Nestle

Published 2015-11-18, 08:37 a/m
© Reuters. Canada prosecutors stay price fixing charges against Nestle
NESN
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TORONTO, Nov 18 (Reuters) - Canadian prosecutors have stayed
proceedings against the local arm of Nestle SA NESN.VX in a
multi-year investigation into alleged price-fixing of chocolate
products, the country's competition watchdog said on Wednesday.
They also stayed charges against the Canada unit's former
chief executive, Robert Leonidas.
"Today's decision marks the end of the chocolate
price-fixing matter," the Competition Bureau said in a
statement. It did not give a reason for the stay.
Canada had charged Nestle and others in 2013 with colluding
to fix the price of chocolate.
At the time, the Competition Bureau recommended lenient
treatment for the Canadian arm of Hershey Co, which cooperated
with the investigation and reached a deal to plead guilty to a
single count of price fixing. Nestle said at they time they
intended to "vigorously defend" themselves against the
allegations.
The Competition Bureau spent years probing the allegations
of price fixing in a case that also resulted in a class-action
suit. Hershey, Mars Inc and Nestle all agreed to settlements as
part of that suit.

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