Manuli Rubber Pleads Guilty In Price-Fixing Scheme

Law360, New York (July 28, 2008, 12:00 AM EDT) -- Milan, Italy-based Manuli Rubber Industries SpA and a former executive have agreed to plead guilty to participating in a conspiracy to fix prices, rig bids and allocate market shares, paying $2 million in fines for their role in an international marine hose cartel.

The U.S. Department of Justice filed a felony charge Monday in the U.S. District Court for the Southern District of Florida against Manuli Rubber and Robert L. Furness, the former president of the company's former Plantation, Fla.-based subsidiary.

Furness has agreed to a...
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