Horizon Lines Confirms Federal Agents' Probe On Pricing Practices Of Ocean Carriers

Horizon Lines Inc. (HRZ) on Thursday confirmed that federal agents served search warrants and a grand jury subpoena relating to an investigation of pricing practices of ocean carriers operating in the Puerto Rico trade.

The company said it is cooperating fully with the government officials. The company added that it has not been informed of the specific subject matter of the inquiry, being conducted by the U.S. Department of Justice's Antitrust Division.

Horizon Lines does not expect the government inquiry to impact the service levels provided to its customers.

Source: RTTnews