Court approves Kuehne + Nagel’s $9.9 million settlement

    Kuehne + Nagel said it will pay a $9.9 million fine to resolve allegations that international freight forwarders coordinated their activities with respect to establishing certain surcharges.
    The Swiss forwarder said the U.S. District Court for the District of Columbia approved a plea agreement that K+N entered into with the U.S. Department of Justice in September. It said this marks the conclusion of a U.S. antitrust investigation that began in 2007.
    K+N said the DOJ and court recognized it had “provided substantial assistance to the U.S. authorities through its early and extensive cooperation with the investigation.”
    Karl Gernandt, chairman of K+N said his company was “committed to abiding by all antitrust laws and regulations. I reconfirm that we continuously develop and reinforce our compliance program to always ensure compliance with the highest available standards.”