K+N agrees to $28 million price-fixing penalty

   The global logistics company Kuehne + Nagel said Friday it has entered into a settlement agreement with the U.S. government to pay $28 million in a class action price-fixing lawsuit over surcharges assessed for freight forwarding services.
   The settlement is related to civil damages for conduct previously investigated by the U.S. Justice Department. K+N agreed last November to pay a $9.9 million fine for its anticompetitive activities.
   “The class action settlement, which is subject to U.S. court approval, provides that Kuehne + Nagel will pay an amount of $28 million, and in addition, assign proceeds itself receives from a pending class action against airlines,” the company said in a statement. “The payment will be effected from a provision built for this purpose.”
   “With this settlement we will be able to finally conclude the painful litigation in the United States related to past antitrust allegations,” said Karl Gernandt, chairman of Kuehne + Nagel International AG.