Expeditors Receives Administrative Proceeding from Brazilian Ministry of Justice
20 August 2010 - 10:15PM
Business Wire
Expeditors International of Washington, Inc. (NASDAQ:EXPD), the
international freight forwarding and logistics company, said that
on August 17, 2010, the company and its Brazilian subsidiary,
Expeditors Internacional do Brasil Ltda. (together, "Expeditors")
received an Administrative Proceeding ("AP") from the Brazilian
Ministry of Justice. The AP initiates a proceeding against
Expeditors and one of its employees, alleging possible
anti-competitive behavior contrary to Brazilian rules on
competition. Expeditors intends to vigorously defend itself against
the allegations. Should Expeditors be found to have committed an
infringement against Brazilian anti-competition laws, it may result
in material fines and penalties.
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