CLASS ACTION LAWSUIT FILED FOR ALLEGED PRICE FIXING
The Port of Galveston, the Port of New Orleans and Houston-based OSG Lightering Services have filed a class action lawsuit against Swedish company Trelleborg AB and its subsidiaries, claiming the company participated in schemes to fix prices and rig bids on construction materials. This lawsuit stems from a seperate suit filed 2005 by a Trelleborg AB executive that claimed the company was fixing prices.
Photo by Jennifer Reynolds. As a result of that lawsuit, Trelleborg agreed to pay $14 million, and was subject to fines along with other companies involved in the price fixing. Those involved in the current lawsuit claim they have not received any restitution from the fines. Port of Galveston officials estimate that the price fixing cost them over $100,000 between 2002 and 2006.