Jury Finds 2 Not Guilty In Marine Hose Cartel

Law360, New York (November 11, 2008, 12:00 AM EST) -- A jury has acquitted two Manuli Rubber Industries SpA employees who were indicted on allegations that they participated in a worldwide conspiracy to rig bids and fix prices in the marine hose industry.

After a four-week trial, a jury came back after about two hours Monday with not guilty verdicts for Val M. Northcutt and his colleague, Francesco Scaglia, who work for the Milan, Italy-based rubber manufacturer and wholesaler.

The two men were accused last year of conspiring to suppress competition for marine hoses from about...
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.