MOL hit with class action suit

JUNE 19, 2013 — The drifting separated sections of the containership MOL Comfort are not the only problem facing Mitsui O.S.K. Lines, Ltd. (MOL) President Koichi Muto. Allegations of price fixing in the car carrier market is another emerging headache.

Yesterday, says MOL, its subsidiary in the United States, Mitsui O.S.K. Bulk Shipping (USA), Inc. (MOBUSA), received a copy of the complaint concerning a class-action lawsuit filed on June 5, 2013 (local time) in the United States District Court for the Southern District of California.

MOL Group will says it will “properly address the matter after carefully examining the details.”

According to MOL Group, plaintiff David Schroeder argues that the defendants conspired to adjust prices for ocean transport services of completed cars, which are related to the trade of the United States.

The plaintiff seeks compensation for alleged damages, injunctive relief for the subject action against the defendants, and so on. The amount of damage claimed is not specified in the complaint.

MOL says it has learned that other similar lawsuits have been filed against MOL Group companies in the United States. It says “the effect of these lawsuits on MOL’s business performance is uncertain at this stage due to the difficulty of calculating the financial impact.”