• Most Popular
  • Most Shared

UPDATE 1-Canada chocolate makers talked of price fixing-WSJ

Fri Dec 21, 2007 9:38pm EST

Stocks

   

(Adds details, background)

Stocks  |  Regulatory News

NEW YORK, Dec 21 (Reuters) - Representatives from chocolate companies in Canada have been talking to one another for as long as five years about fixing prices, the Wall Street Journal reported on its Web site on Friday, citing court affidavits.

The companies included Hershey Co (HSY.N), Mars, Nestle SA (NESN.VX) and ITWAL Ltd, a Canadian candy distributor, the Journal reported.

People from one company who were not named in court documents supplied e-mails and information about telephone calls and private meetings among the companies to a lawyer at Canada's Competition Bureau, the Journal said, citing two affidavits filed with the Ontario Superior Court of Justice.

The bureau filed the affidavits to support a request for a warrant to search Canadian offices of those companies, the Journal reported, but no charges have been filed.

Hershey said it had no comment. None of the other companies were immediately available for comment.

In November, Canadian authorities launched an investigation into allegations of anti-competitive practices in the chocolate industry.

The Competition Bureau issued warrants on Nov. 21 for its officers to conduct searches and the Canadian units of Nestle, Mars and Hershey confirmed they were contacted by the bureau. (Reporting by Aarthi Sivaraman, editing by Richard Chang)



More from Reuters

Photo

Dubai World says to work with creditors in orderly way

DUBAI (Reuters) - Dubai World, which met its creditors on Monday, said it would work with lenders to seek a debt standstill in "an orderly way" and will get government financial support if an agreement is reached.

A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

Two men shake hands in a file photo.    REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article