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Parker ITR pleads guilty in US

The Global Competition Review reports that Parker ITR has plead guilty to bid rigging and price fixing charges in relation to the global marine hose cartel investigation. The Italy-based company has agreed to pay $2.29 million in fines. The story adds that in 2009 Parker ITR "reached a first-of-its-kind worldwide settlement agreement with Hausfeld LLP that provided evidence for an eventual damages claim against the marine hose cartel in the UK High Court." Read the full article here (subscription required).

More information on this case: Marine Hose

Practice Areas: Antitrust / Competition