DOJ Nets $9M In First Ocean Shipping Cartel Plea

Law360, New York (February 27, 2014, 3:26 PM EST) -- The U.S. Department of Justice's antitrust probe of the international ocean shipping industry yielded its first guilty plea Thursday, when a Chilean company agreed to pay $8.9 million for its role in a plot to fix prices, allocate customers and rig bids on its automobile shipping services.

Compania Sud Americana de Vapores SA was charged with conspiring to hinder and eliminate competition by manipulating prices and allocating customers and routes for its shipping services of roll-on, roll-off cargo to the U.S. and elsewhere for more than...
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