Marine Hose Makers To Pay $4.75M To Exit MDL

Law360, New York (April 23, 2010, 5:03 PM EDT) -- Manuli Rubber Industries SpA and Sumitomo Rubber Industries Ltd. have agreed to pay $4.5 million and $250,000, respectively, to settle claims that they participated in price-fixing in the marine hose industry.

If approved, the deals filed Thursday in the U.S. District Court for the Southern District of Florida would leave only the Pirelli SpA and Comital SAIAG SpA defendants remaining in the multidistrict antitrust litigation.

The terms of the settlement agreements call for the Manuli defendants — which include the company's U.S. unit and two individuals...
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