Ocean shipping and integrated logistics company Horizon Lines has reached a settlement agreement with plaintiffs in a price-fixing lawsuit.
Under the agreement, Horizon will pay $20m to resolve claims for alleged antitrust violations in the Puerto Rico trade lane.
Several purported class action lawsuits were filed against Horizon and other domestic shipping carriers on behalf of a class of individuals and entities who purchased domestic ocean shipping services from various domestic ocean carriers in the Puerto Rico trade lane between 2002 and 2008.
The lawsuits were consolidated into a single multidistrict litigation proceeding in the US District Court for the District of Puerto Rico.
The settlement agreement is still subject to court approval, the company said.