A judgment of more than $59 million against Dole Food Co. Inc. was affirmed Thursday by a European Union court.
The Westlake Village company, and several other produce firms, was fined by the European Union in a 2008 case that alleged the companies fixed banana prices in eight countries within the Union about 10 years ago.
Dole appealed the case to the EU General Court, which upheld the decision by the European Commission.
“We strongly believe that the European competition laws were not violated,” said Dole Chief Operating Officer C. Michael Carter, in a statement.
"The general court’s decision treats discussions about general market conditions the same as a price-fixing cartel
Dole has announced that it will appeal the latest decision to the higher EU Court of Justice in Luxembourg.
Shares gained 17 cents, or about 1.6 percent, to close at $10.84 on the New York Stock Exchange.