Bumble Bee files bankruptcy amid antitrust fines and lawsuits

The Japan Times

NEW YORK – Bumble Bee Foods LLC, the largest North American brand of packaged seafood, filed for bankruptcy amid criminal fines and civil lawsuits stemming from a federal price-fixing case with plans for its assets to be acquired by FCF Co. for about $925 million. The canned-tuna purveyor sought creditor protection under Chapter 11 in Wilmington, Delaware, listing assets and liabilities of as much as $1 billion each, according to court papers. It has arranged an $80 million term loan from its current lenders and a $200 million revolving credit facility to keep operating while in bankruptcy, the documents showed. Bumble Bee, based in San Diego, California, and owned by London-based private equity firm Lion Capital LLC, pleaded guilty in 2017 to conspiring with Starkist Co. and Chicken of the Sea Inc. to fix and raise prices in the U.S. The company flagged its financial distress at the time of sentencing, arguing the $81.5 million fine initially levied could push it into insolvency. The U.S. Department of Justice agreed, cutting the amount to $25 million and giving Bumble Bee an installment plan over several years that required no more than $2 million upfront.


Interior to Offer Largest Oil and Gas Lease Sale in US

U.S. News

Rep. Raul Grijalva of Arizona, the top Democrat on the House Natural Resources Committee, said Zinke and congressional Republicans were taking credit for an Obama-era policy to offer oil and gas leases from all available tracts in the Gulf, rather than separating the western and eastern Gulf areas from the more productive central Gulf region off Louisiana, Mississippi and Alabama.


U.S. high court declines to extend halt to climate change lawsuit

The Japan Times

WASHINGTON – The Supreme Court on Friday declined for now to stop a lawsuit filed by young activists who say the government isn't doing enough to prevent climate change. But the high court also told the Trump administration that the government can still petition a lower court to dismiss the case as the government had asked the high court to do. Trial in the case had been scheduled to begin earlier this week in Eugene, Oregon, but the Supreme Court temporarily halted the trial earlier this month. On Friday evening, the high court declined to extend the temporary halt to the case. The court said in a three-page, unsigned order that ordinarily the request the government made to the justices for the case to be dismissed has to be made to a lower court first.


More states join lawsuit to keep 3D-printed gun plans off the internet

Engadget

On August 1st, Defense Distributed was set to upload designs of 3D-printed guns for the public to buy and download. But the day before, a Seattle judge temporarily blocked their release after seven states and Washington, DC sued the company and State Department. Today, eleven more states have joined the legal battle to stop the firearm plans from being sold online. According to the filing, amended complaint added California, Colorado, Delaware, Hawaii, Illinois, Iowa, Minnesota, North Carolina, Rhode Island, Vermont, and Virginia to the list of states Attorneys General opposing the release of the files. Per the Brady Campaign and Center to Prevent Gun Violence, the preliminary injunction hearing has been scheduled for August 21st and the temporary restraining order has been extended until August 28th.


Apple and Qualcomm End Their Legal Beef and Drop Lawsuits

WIRED

The convoluted legal battle between Apple and chipmaker Qualcomm may be coming to an end. The companies said Tuesday that they're dismissing all litigation against each other. Apple will pay Qualcomm an undisclosed sum as part of the settlement, which includes a six-year licensing agreement between the two. The settlement also covers suits brought by Apple's manufacturing partners, which wanted Qualcomm to repay $9 billion--a number that reportedly could have been tripled under antitrust law--that they say the chipmaker overcharged them for patent royalties. The announcement came while Qualcomm's lawyer was delivering his opening remarks in a trial of numerous claims and counterclaims that started Tuesday morning in San Diego, according to CNET.