US: Hershey, Nestle stand firm on price-fixing allegations
The claims date back to 2007
A court in the US has said over 90 claimants can table a class action against the companies and fellow chocolate maker Mars Inc for fixing prices between 2002 and 2007.
The ruling is the latest development in a story that dates back five years when the three companies and the then Cadbury Schweppes faced claims of collusion. With class action status granted, the case will now continue.
Cadbury, now owned by Mondelez International, has settled out of court but Hershey and Nestle have insisted they will fight on.
"We are reviewing the ruling, which is limited only to class action procedures and is in no way determinative of the allegations in the case which remain unproven. Nestlé will continue to vigorously defend itself in this litigation," a spokesperson for Nestle USA said.
Hershey added: "We believe the allegations in this case are without merit. Hershey will vigorously defend itself as the legal process unfolds."
Officials at Mars could not be reached for comment.
- How brands are eyeing their own retail presence
- Why Lactalis could move for Dairy Crest
- Who could swoop for Diamond Foods?
- The consistent inconsistency of European promos
- Indonesia – How ice cream makers can drive volumes
- Nestle, R&R Ice Cream in joint venture talks
- How the food industry is reacting to TPP
- China implements new safety regulations
- Unilever acquires Italian gelato group Grom
- Mondelez 'preparing to sell European cheese unit'
- Management briefing: just-food’s industry outlook for 2015
- Global Savory Snacks Market: Merger and Acquisitions August 2015
- Danone SA : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- E-Grocery Market in India - Market Research 2015-2019
- Food and Beverage Coding and Marking Equipment: Market Outlook 2015-2019