Hose Maker Strikes Preemptive Deal Over Cartel

Law360, New York (March 6, 2009, 12:00 AM EST) -- Italy-based Parker ITR has reached a groundbreaking agreement over its alleged involvement in an international marine hose cartel that privately resolves its liability out of court, the plaintiffs' firm Hausfeld LLP announced Friday.

U.K.-based Hausfeld, which represents major oil companies and other purchasers of marine hose, said the deal with Parker to settle potential claims before litigation was historic and could be the model for global cartel settlements in the future.

“The Parker settlement is truly revolutionary in the context of global dispute resolution, one that...
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