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MOL settles price-fixing case in US court

Japanese international transportation firm MOL (Mitsui O.S.K. Lines Ltd) has settled in the antitrust case brought against it in US District Court, it was announced on Tuesday.

The case involved price fixing among firms shipping new cars and other vehicles to the US market and was brought on behalf of consumers and vehicle dealerships.

Known as the Vehicle Carrier Services Antitrust Litigation case, it was heard in the US District Court in the District of New Jersey in Newark.

Accused firms, MOL included, were said to have rigged bids, fixed prices and overcharged clients.

As yet the amount of the settlement has not been revealed but more public disclosure is likely in future.

Tokyo-headquartered MOL has major interests in international shipping beyond new-vehicle transportation.

Last month another Japanese company, K-Line, became the first firm to settle in this case.

In March three K-Line executives were jailed and fined in relation to the same events with a top sentence of 18 months and a top fine of $20,000.

More than a dozen international marine transportation companies are accused in the case.

Splash 24/7
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Splash 24/7
Published on:
August 19, 2015
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http://splash247.com/mol-settles-price-fixing-case-us-court/
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