Two Marine Hose Execs Plead Guilty To Price-Fixing

Law360, New York (November 6, 2007, 12:00 AM EST) -- The U.S. Department of Justice has struck its first plea deals in its marine hose price-fixing and bid-rigging probe, with two Trelleborg Industrie SAS executives agreeing to speak up, pay up and go to jail.

In exchange for a shortened jail stint of 14 months and fines of $75,000 and $100,000, industrial fluid systems business unit Christian Caleca and oil and marine product area manager Jacques Cognard agreed to cooperate fully in the investigation.

The usual sentence for a one-count felony charge of Sherman Act violation,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.