Höegh Autoliners to plead guilty to price fixing, seven executives fugitives
According to a one-count felony charge filed in the U.S. District Court for the District of Maryland, Höegh Autoliners conspired with competitors to suppress and eliminate competition by allocating customers and routes, rigging bids, and fixing prices for the sale of international ocean shipments of roll-on, roll-off cargo to and from the United States and elsewhere, including the Port of Baltimore.
Höegh participated in this conspiracy from as early as January 2001 until at least September 2012.
In addition to the fine, Höegh has agreed to be placed on corporate probation for three years to ensure full compliance with the antitrust laws.
Höegh has also agreed to cooperate with the department’s ongoing investigation.
Höegh is the fifth company to plead guilty in this investigation—bringing the total criminal fines to over $255 million.
Four executives have already pleaded guilty and been sentenced to prison terms.
An additional seven executives are known to have been indicted, but remain fugitives. ■