Two Japanese freight companies to pay $18.9 million for price-fixing
Two Japanese freight forwarders have agreed to pay a total of $18.9 million in criminal fines for their role in a price-fixing scheme, according to the Department of Justice (DOJ).
March 11, 2013 at 07:33 AM
4 minute read
The original version of this story was published on Law.com
Two Japanese freight forwarders have agreed to pay a total of $18.9 million in criminal fines for their role in a price-fixing scheme, according to the Department of Justice (DOJ).
Over the course of at least five years, Yusen Logistics Co. and “K” Line Logistics Ltd. conspired to fix freight forwarding fees, including security fees and fuel surcharges, on air cargo shipments from Japan to the U.S., the DOJ said. The two are just the latest in a string of 16 freight forwarding companies that have agreed to plead guilty to price-fixing and pay criminal fines totaling more than $120 million.
“Consumers were forced to pay higher prices on the goods they buy every day as a result of the noncompetitive and collusive service fees charged by these companies,” Bill Baer, Assistant Attorney General of the DOJ's Antitrust Division said in a statement. “Prosecuting these kinds of global, price-fixing conspiracies continues to be a top priority of the Antitrust Division.”
The DOJ seems to have been successful in pursuing that priority. In the 2012 fiscal year, the antitrust division collected a record-breaking $1.35 billion in criminal fines, nearly 60 percent of which came from Asia-Pacific-based companies.
In its own statement to shareholders, Yusen said that it “treats this incident with utmost seriousness” and that it is taking steps to strengthen its compliance efforts.
Read more at Thomson Reuters.
For more InsideCounsel coverage of price-fixing, see:
Jury orders Dow Chemical to pay $400 million for price-fixing
Toshiba will pay $87 million for price fixing
9th Circuit revives dairy farmers' price-fixing suit
Retailers appeal $7.2 billion Visa/MasterCard settlement
Illinois sues Samsung, LG and other electronics companies for price-fixing
SuperConference Keynote Panel offers inside look at the story behind “The Informant”
Two Japanese freight forwarders have agreed to pay a total of $18.9 million in criminal fines for their role in a price-fixing scheme, according to the Department of Justice (DOJ).
Over the course of at least five years, Yusen Logistics Co. and “K” Line Logistics Ltd. conspired to fix freight forwarding fees, including security fees and fuel surcharges, on air cargo shipments from Japan to the U.S., the DOJ said. The two are just the latest in a string of 16 freight forwarding companies that have agreed to plead guilty to price-fixing and pay criminal fines totaling more than $120 million.
“Consumers were forced to pay higher prices on the goods they buy every day as a result of the noncompetitive and collusive service fees charged by these companies,” Bill Baer, Assistant Attorney General of the DOJ's Antitrust Division said in a statement. “Prosecuting these kinds of global, price-fixing conspiracies continues to be a top priority of the Antitrust Division.”
The DOJ seems to have been successful in pursuing that priority. In the 2012 fiscal year, the antitrust division collected a record-breaking $1.35 billion in criminal fines, nearly 60 percent of which came from Asia-Pacific-based companies.
In its own statement to shareholders, Yusen said that it “treats this incident with utmost seriousness” and that it is taking steps to strengthen its compliance efforts.
Read more at Thomson Reuters.
For more InsideCounsel coverage of price-fixing, see:
Jury orders
Toshiba will pay $87 million for price fixing
9th Circuit revives dairy farmers' price-fixing suit
Retailers appeal $7.2 billion Visa/MasterCard settlement
Illinois sues Samsung, LG and other electronics companies for price-fixing
SuperConference Keynote Panel offers inside look at the story behind “The Informant”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Crypto Industry Eyes Legislation to Clarify Regulatory Framework
SEC Official Hints at More Restraint With Industry Bars, Less With Wells Meetings
4 minute read
Trump Fires EEOC Commissioners, Kneecapping Democrat-Controlled Civil Rights Agency
Trending Stories
- 1How Some Elite Law Firms Are Growing Equity Partner Ranks Faster Than Others
- 2Fried Frank Partner Leaves for Paul Hastings to Start Tech Transactions Practice
- 3Stradley Ronon Welcomes Insurance Team From Mintz
- 4Weil Adds Acting Director of SEC Enforcement, Continuing Government Hiring Streak
- 5Monday Newspaper
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
