April 7, 2014
On April 4, 2014, the U.S. Department of Justice’s Antitrust Division successfully extradited Romano Pisciotti from Germany to make an initial appearance on antitrust-related charges in a federal district court in Miami, Florida. Pisciotti, an Italian national and former executive with Parker ITR S.r.l., allegedly conspired to suppress and eliminate competition by engaging in bid-rigging, price-fixing and allocating market shares for the sales of marine hose in the United States and in other countries.
The Antitrust Division’s indictment alleges that while working for Parker, a marine hose manufacturer, Pisciotti collected and divulged to a co-conspirator/coordinator information from customers in the United States and elsewhere about upcoming marine hose jobs. That coordinator allegedly was paid by conspiring marine hose manufacturers, and served as a clearinghouse for bidding information that was shared among the conspirators. Pisciotti allegedly joined and participated in the conspiracy from 1999 until at least November 2006.
Pisciotti’s extradition is the first ever of its kind based on an antitrust charge. The Antitrust Division announced that Pisciotti’s extradition “marks a significant step forward in [its] ongoing efforts to work with [its] international antitrust colleagues to ensure that those who seek to subvert U.S. law are brought to justice.”
As antitrust enforcement continues to reach across country lines, it is incumbent on companies to strongly consider implementing effective antitrust compliance programs. For more information and to obtain assistance with instituting such a compliance program, please contact McGuireWoods LLP.