Japanese shipping giant Mitsui OSK. Lines,(MOL) has reached a settlement in a major class-action antitrust lawsuit filed by individual consumers and auto, truck and equipment dealerships against more than a dozen international companies accused of artificially driving up shipping costs.
This marks the second significant settlement in the Vehicle Carrier Services Antitrust Litigation following an agreement reached last month with another Japanese shipping company, K-Line.
The financial terms of both settlements remain confidential.
Additional defendants, among others, include Nippon Yusen Kabushiki Kaisha (NYK Line) and Chilean-based Compania Sud Americana de Vapores (CSAV), both of which previously pleaded guilty to participating in the conspiracy that is still being investigated by the federal government.
MOL reaches settlement in antitrust case
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