Pirelli Settles Marine Hose Antitrust MDL For $3M

Law360, New York (August 9, 2010, 12:40 PM EDT) -- Pirelli & C. SpA has agreed to pay $2.95 million and to cooperate with litigation against nonsettling defendants in order to escape multidistrict litigation that alleges a worldwide conspiracy to fix the prices of rubber marine hose.

Loop LLC and Bayside Rubber & Products Inc. filed a motion on behalf of a class of marine hose direct purchasers seeking approval of the settlement with Pirelli and Pirelli Itala SpA on Friday in the U.S. District Court for the Southern District of Florida.

The plaintiffs asked for...
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