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,...
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