Stolt-Nielsen wins round in antitrust battle
Stolt-Nielsen S.A. reports that today the United States District Court for the Eastern District of Pennsylvania "ordered that the United States of America is enjoined from indicting or prosecuting Stolt-Nielsen SA, Stolt-Nielsen Transportation Group Ltd. and Richard B. Wingfield for any violations of the Sherman Act, 15 U.S.C. 1, up to and including January 15, 2003, in the parcel tanker industry involving transportation to and from the United States."
In February 2004, Stolt-Nielsen sued in federal court to enforce the Amnesty Agreement it had entered with the Antitrust Division on January 15, 2003. Through this order, the Court enforces the Amnesty Agreement entered into by Stolt-Nielsen and the Department of Justice Antitrust Division on January 15, 2003.
The Justice Department had cancelled its leniency deal with Stolt-Nielsen and on March 22, 2004 issued a comment on the leniency program asserting that: "All companies that apply to the Corporate Leniency Program must meet certain requirements and make accurate representations to the Division. Corporate applicants are accepted on a conditional basis. As part of its enforcement efforts, throughout the investigation, the Division verifies the representations of the corporate leniency applicant. At any time throughout the process, the Division may expel an applicant after concluding that a company has made false representations to the Division or has otherwise not fully complied with the leniency policy requirements."
Through today's order, the Court enforces the Amnesty Agreement entered into by Stolt-Nielsen and the Department of Justice Antitrust Division on January 15, 2003.
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