Law360 (March 6, 2009, 12:00 AM EST) -- The privately brokered settlement between accused marine hose cartelist Parker ITR and global purchasers of marine hose could provide a basis for other settlements, but should not be seen as a cut-and-paste model, antitrust attorneys say.
The deal, announced by claimants' firm Hausfeld LLP on March 6, was touted as the “first ever private settlement of a global cartel.”
Under the settlement, non-U.S. claimants, including oil companies and other direct and indirect purchasers of marine hose, agree to release any claims against Italy-based Parker ITR in exchange for a slice of a “high, seven-figure euro” settlement fund, according to Hausfeld attorney...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!