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On March 26, 2021, Southern District of Florida District Court Judge Cecilia Altonaga denied a motion to dismiss an antitrust class action alleging a conspiracy to fix the price of farm-raised Atlantic salmon globally.
[1]
According to the Plaintiffs’ Second Consolidated Amended Complaint, the Defendants engaged in a conspiracy to increase salmon prices by manipulating the NASDAQ Salmon Index that provides weekly spot market pricing for salmon in Norway.
[2] The NASDAQ Salmon Index was created in 2013 when the conspiracy is alleged to have begun.
[3] Because the majority of the world’s salmon comes from Norway, the NASDAQ Salmon Index serves as the benchmark for salmon pricing around the world.