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Iceland Slaps Shipping Co. With Record Antitrust Fine

Law360 (January 8, 2008, 12:00 AM EST) -- Five years after first conducting dawn raids at Eimskip, Iceland has smacked the shipping giant with its largest antitrust penalty ever for allegedly trying to lure a rival's customers away through predatory pricing methods.

Iceland's competition authority recently revealed that it had taken Eimskip to task over its alleged antitrust violations, fining the company €3.4 million for a purported anticompetitive scheme first carried out years ago.

The plot was allegedly hatched in April 2002, when Eimskip's managerial team decided to target Samskip's customers with predatory pricing...
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