Principal and Board Chairman Barry C. Harris testifies in U.S. v. Stolt-Nielsen.

EI Principal and Board Chairman Barry C. Harris testified on behalf of parcel tanker operator Stolt-Nielsen in Federal District Court. At issue in U.S. v. Stolt-Nielsen was whether Stolt-Nielsen had taken prompt and effective action, as required under the DOJ’s corporate leniency program, to cease its involvement in a bid-rigging conspiracy. Dr. Harris noted in his testimony that Stolt-Nielsen’s revised antitrust policy made price fixing unlikely and that observed bidding behavior for contracts alleged to have been subject to a conspiracy was not consistent with a well-functioning cartel. Judge Bruce Kaufmann cited Dr. Harris’ testimony and ruled in favor of the defendants in dismissing the indictments.