Horizon Lines Acknowledges Suit

Monday, January 05, 2009

Horizon Lines, Inc. announced on Jan. 2 that it has been named as a defendant in a securities class action lawsuit in the United States District Court for the District of Delaware purportedly on behalf of purchasers of the Company's common stock during the period from March 2, 2007 through April 25, 2008. The Chief Executive Officer of the Company, as well as several former employees of the company, were also named as defendants.

The complaint alleges, among other things, that the company made material misstatements and omissions in connection with alleged price-fixing in the company's shipping business in Puerto Rico in violation of antitrust laws.

The company is unable to predict the outcome of the lawsuit; however, the Company believes that it has appropriate disclosure practices and intends to vigorously defend against the lawsuit.

(www.horizonlines.com)

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

Indian Investigators Drop Case Against Billionaire Birla

India's Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in

Oil Train Regulation Passes in California

California lawmakers on Friday passed legislation requiring railroad companies to tell emergency officials when crude oil trains will chug through the state.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0967 sec (10 req/sec)