Stolt-Nielsen S.A.

Jacob Stolt-Nielsen, has been embroiled in a criminal cartel scandal for years. His company have profited by not informing other shareholders that Stolt-Nielsen s immunity in the criminal case of fixing charter rates had been revoked.

Jacob Stolt-Nielsen remains under investigation in the USA.

Stolt-Nielsen Transportation Group sold off 7.7 million of its own shares instocklisted Stolt-Nielsen SA in 2004, after the immunity had been suspended, without informing the market about t [...]

Jacob Stolt-Nielsen, has been embroiled in a criminal cartel scandal for years. His company have profited by not informing other shareholders that Stolt-Nielsen s immunity in the criminal case of fixing charter rates had been revoked.

Jacob Stolt-Nielsen remains under investigation in the USA.

Stolt-Nielsen Transportation Group sold off 7.7 million of its own shares instocklisted Stolt-Nielsen SA in 2004, after the immunity had been suspended, without informing the market about the change in immunity status.

US anti-trust authorities cracked down hard on Stolt-Nielsen and two other Norwegian shipowning companies that admitted fixing rates on their chemical tankers. Executives at JO Tankers and Odfjell ended up serving jail terms, and those companies paid large fines.

Stolt-Nielsen initially won immunity when it said it would cooperate with the US authorities and cease all cartel operations. The authorities later determined, however, that Stolt-Nielsen officials lied and kept on charging the high cartel rates for several months.

That led the US to revoke Stolt-Nielsen's immunity, as early as April 2003, reports Dagens Næringsliv. But Stolt-Nielsen protested and didn't inform the market, and then sold 7.7 million Stolt-Nielsen shares for NOK 714 million in January 2004.

US authorities continue to investigate Stolt-Nielsen. The company has since vacated its former US offices near New York and Jacob Stolt-Nielsen has sold his longtime home there and left the country » web

de Drake - Miércoles 9 Enero 2008 à 20h42 - Comentario pertinente? SI : 0  NO : 0