Chiquita Pays to End Claims Over Terrorist Payment
Chiquita Brands International, Inc. has made a payment of up to $4 million to help settle outstanding shareholder lawsuits. Chiquita was involved with well known terrorists groups. Last month in Miami a United States District Judge approved a settlement that will end the shareholder litigation over the company’s 2007 guilty plea.
Chiquita was charged of engaging in transactions involving Colombian Terrorist. The DailyFinance stated that, “it came under attack for helping to finance AUC, FARC and ELN, a trio of Colombian terrorist and paramilitary groups.” Chiquita, in its past life as the United Fruit Company, was known to support dictatorships in Guatemala, Colombia, Honduras, Costa Rica, and Chile.
Admitting that it helped the Colombian terrorists, Chiquita settled in 2007 and paid a $25 million fine to the Department of Justice. The fine will go toward paying plaintiffs legal fees. Moreover, the board will pass a resolution that says it will not authorize “illegal payment to terrorist organizations” and “bribes to foreign officials.”