Sunday, September 16, 2007

Antitrust Indictment Related to Marine Hose

A DOJ Press Release reports of the indictment of two individuals for allegedly "participating in a conspiracy to rig bids, fix prices and allocate market shares for sales of marine hose used to transport oil."  This indictment appears to come in part from a Department of Defense investigation.  What is particularly noteworthy here is how marine hose is used.  The DOJ Press Release notes that "Marine hose is a flexible rubber hose used to transfer oil between tankers and storage facilities and buoys."  The indictment alleged that "[d]uring the conspiracy, the conspiracy participants sold hundreds of millions of dollars worth of marine hose and related products."  It also alleges that "[t]he victims of this conspiracy included companies involved in the off-shore extraction and/or transportation of petroleum products and the U.S. Department of Defense."

(esp)   

http://lawprofessors.typepad.com/whitecollarcrime_blog/2007/09/antitrust-indic.html

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