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(EMAILWIRE.COM, June 07, 2013 ) San Francisco, CA -- Several major import-vehicle shippers face allegations of price fixing in a civil lawsuit filed in a U.S. court. These vehicle shippers account for over 70 percent of the global car-shipping market.
The overseas shippers are accused of taking part in a scheme to "fix, raise, maintain and/or stabilize prices” that lasted at least five years, according to the lawsuit which was filed May 24 by law firm Susman Godfrey in U.S. District Court in Jacksonville, Florida.
The complaint alleges that the companies sought to “suppress and eliminate” competition in the car-shipping market by fixing their prices that outdid other companies in the industry. The civil lawsuit follows investigations into shipping companies' pricing practices by government agencies in Europe, Japan, the United States and other countries where shipping is prominent.
Payments to the companies, which ship new vehicles to the U.S. from overseas factories for dealers and consumers, range between $600 million and $800 million each year, according to the complaint. The shipping companies fixed shipping prices and inflated the charges, and those higher fees were then passed down from the automakers and dealerships and then ultimately to the consumer, said Warren Burns, the lead attorney in the case. The suit is seeking class-action status.
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Source: EmailWire.com
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