Horizon To Pay $45M Fine For Shipping Conspiracy: DOJ

Law360, New York (February 24, 2011, 5:46 PM EST) -- Horizon Lines LLC will plead guilty to conspiring to fix prices in the market for freight services between the U.S. and Puerto Rico and pay a $45 million criminal fine, the U.S. Department of Justice announced Thursday.

Under the terms of the agreement, Horizon will plead guilty in the U.S. District Court for the District of Puerto Rico to one count of violating the Sherman Act and pay the fine over a five-year period.

Horizon said it was working with lenders to avoid a judgment of...
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