Horizon Decries Suit Over Price-Fixing Scheme

Law360, New York (January 5, 2009, 12:00 AM EST) -- An investigation by antitrust authorities into Horizon Lines Inc.'s pricing practices in Puerto Rico's shipping trade lanes has led to a securities class action against the ocean carrier, which said Friday it plans to fight charges that it made material misstatements and omissions in connection with the alleged price-fixing.

The lawsuit, filed Dec. 30 by City of Roseville Employees' Retirement System in the U.S. District Court for the District of Delaware, accuses Horizon of fraudulently inflating its securities prices by entering into illegal price-fixing agreements with...
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