Photo: Getty Images

Bum­ble Bee Foods, the canned seafood brand, filed for bank­ruptcy protection — crushed by the weight of legal expenses “stem­ming from its in­volve­ment in a con­spir­acy to fix prices on canned tuna,” as the Wall Street Journal reports.

The state of play: It also plans to sell its assets to Taiwan-based FCF Fishery Co. for $925 million.

  • Bumble Bee's current owner, private equity firm Lion Capital, bought the company for $980 million in 2010.

The bottom line: Bumble Bee’s sales took a hit as consumer appetite for canned tuna waned. But ultimately its scheme with competing brands to keep prices of canned tuna artificially high — which drew a hefty criminal fine and customer lawsuits — pushed the company into bankruptcy.

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America's leaders are rethinking how they view Independence Day, as the country reckons with the historic, unequal treatment of people of color during a pandemic which has disproportionately affected nonwhite Americans.

Why it matters: The country’s legacy of racism has come into sharp focus in the weeks of protests following the death of George Floyd while in Minneapolis police custody. From Confederate statues to Mount Rushmore, Americans are reexamining the symbols and traditions they elevate and the history behind them.

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