Investigation and a consolidated class action complaint on behalf of a class of individuals and entities who, from January 1999 to the present (the 'Class Period'), purchased marine hoses and related products directly from Trelleborg Industrie S.A.; Parker ITR srl; Manuli Rubber Industries SpA; Manuli Oil & Marine (U.S.A.), Inc.; Bridgestone Corporation; Bridgestone Industrial Products America, Inc.; Dunlop Oil & Marine Ltd.; Yokohama Rubber Co., Ltd.; and/or Parker-Hannifin Corporation (collectively, the 'Hose Entity Conspirators').
According to the complaint, the Hose Entity Conspirators are the leading manufacturers and/or sellers of marine hoses, and collectively sold hundreds of millions of dollars worth of marine hoses and related products during the Class Period. Marine hoses are flexible rubber hoses that are primarily used to transport oil between ships, terminals, buoys, and offshore tankers. The complaint alleges that the Hose Entity Conspirators engaged in a massive global conspiracy to rig bids; fix, raise, maintain, or stabilize prices; and allocate markets for marine hoses and related products during the Class Period. According to the complaint, this conspiracy caused the prices of marine hoses to be artificially inflated, and suppressed competition in the manufacture and sale of marine hoses.
The complaint states that the U.S. Department of Justice ('D.O.J.') charged defendant Peter Whittle, owner of defendant PW Consulting (Oil and Marine) Ltd., with criminal violations of the antitrust laws. The complaint claims that Whittle was paid by the other Hose Entity Conspirators to act as the "coordinator" of the cartel. The complaint further alleges that the D.O.J. announced the arrests of Christian Caleca, Jacques Cognard, Vanni Scodeggio, Francesco Scaglia, Misao Hioki, Bryan Allison, and David Brammar for their alleged participation in the worldwide conspiracy.
Name (Stock Symbol)
Trelleborg AB provides industrial products and services.
Manuli Rubber Industries SpA
Manuli Rubber Industries SpA manufactures and sells floating, sub sea marine hoses and elastomeric pipelines for commercial and military use. Manuli Rubber Industries SpA also designs, manufactures and sells hoses, connectors and machines for conveying power in high/very high pressure hydraulic circuits and fluids in refrigeration units.
Manuli Oil & Marine (U.S.A.), Inc.
Manuli Oil & Marine (U.S.A.), Inc., a subsidiary of Manuli Rubber Industries SpA, handles the sales efforts in the US.
Bridgestone Corporation sells tires for automobiles, trucks and motorcycles.
Bridgestone Industrial Products America, Inc.
Bridgestone Industrial Products America, Inc. is a subsidiary of Bridgestone Corporation and it makes rubber parts for industrial uses.
Dunlop Oil & Marine Ltd.
Dunlop Oil & Marine Ltd. designs, manufactures and supplies hoses for the oil, gas, petrochemical and dredging industries, for both offshore and onshore based operations.
Yokohama Rubber Co., Ltd.
Yokohama Rubber Co., Ltd. manufactures rubber and rubber products such as tires.
Parker-Hannifin Corporation manufacture electronic components, and industrial components.
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