WASHINGTON (Pakistan Point News / Sputnik - 09th April, 2020) The sixth and final company in a South Korean conspiracy to fix prices on fuel applied to US military bases settled with the defendants, Jier Shin Korea Co. Ltd., and its president, Sang Joo Lee, accepting a $2 million penalty to settle the civil antitrust and other charges, the US Department of Justice said in a press release on Thursday.
"Today's settlement represents the final chapter of our efforts to use Section 4A of the Clayton Act to ensure that the companies involved in this conspiracy compensate American taxpayers for their anticompetitive activity," Assistant Attorney General Makan Delrahim said in the release. "Together, these are the largest Section 4A settlements in American history, and we will continue to use this important enforcement tool when taxpayers are harmed by cartels."
The United States previously reached civil settlements totaling over $205 million related to the conspiracy with GS Caltex Corporation, Hanjin Transportation Co. Ltd., Hyundai Oilbank Co. Ltd., SK Energy Co. Ltd., and S-Oil Corporation, the release said.
Thursday's $2 million settlement will resolve US civil claims against Jier Shin Korea and Lee, according to the release.
