A class action lawsuit against Pacific Seafood CEO Frank Dulcich seeks more than $500 million in damages from the seafood giant.
A class action lawsuit against Pacific Seafood CEO Frank Dulcich seeks more than $500 million in damages from the seafood giant.
It also seeks to force Dulcich to sell off many of his assets in four fisheries, including everything from boats to processing plants.
Dulcich has used his clout, the case contends, to build monopolies in four of the most lucrative and critical seafood markets on the West Coast: whiting, Dungeness crab, trawl-caught groundfish and, Boardman’s bread and butter, Pacific coldwater shrimp.
Pacific Seafood’s market share in each of those industries ranges from 50 percent to 70 percent, according to fisheries economist James Wilen, a professor at the University of California at Davis. In Pacific shrimp alone, Dulcich commands a staggering 71 percent of the market, and according to Boardman and others, uses that buying faculty to dictate prices along the entire West Coast. The plaintiffs want Pacific to reduce its market share of these fisheries to below 30 percent.
Read more at The Register-Guard.
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