First class-action suits filed against Teo Siong Seng, Singamas and other container makers accused of cartel price-fixing

First class-action suits filed against Teo Siong Seng, Singamas and other container makers accused of cartel price-fixing

June 17, 2026 / Nathan Pine /


[SINGAPORE] An importer and a trucking provider have filed the first class action lawsuits against leading container makers and their executives including Singapore shipping magnate Teo Siong Seng, alleging that they fixed prices of shipping dry containers.

These lawsuits came hot on the heels of the announcement in May by the United States Department of Justice (DOJ), charging four container makers and their executives, including the 71-year-old Teo.

The plaintiffs are seeking damages, restitution and disgorgement of profits from the defendants. While no exact figures were specified, they asked the court to treble the amount of damages.



Source link

Posted in

Nathan Pine

I focus on highlighting the latest in business and entrepreneurship. I enjoy bringing fresh perspectives to the table and sharing stories that inspire growth and innovation.

Leave a Comment