Odfjell Clarifies Lawsuit Details

Wednesday, November 26, 2003
Odfjell has released a statement in hopes of clarifying certain misconceptions reported yesterday. First, the plaintiff in a lawsuit has to prove he has suffered a loss from any illegal action. What is recoverable for the plaintiff is the proven loss. As previously stated, it is our opinion that Odfjell Seachem's customers have not suffered any loss from the antitrust violation. Secondly, if a plaintiff can prove he has suffered a loss, US law sets the maximum compensation to three times the proven loss. Media has grossly incorrect reported this amount to three times the total freight paid. Thirdly, we would like to reiterate that as of today these lawsuits have not been served Odfjell. Because these matters are at an early stage, we are unable to provide further information for the time being.

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