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Article: ARCO disappointed by U.S. Circuit Court reversal of District Court ruling; company is planning to appeal.
- Article from:
- PR Newswire
- Article date:
- June 22, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARCO DISAPPOINTED BY U.S. CIRCUIT COURT REVERSAL OF DISTRICT
COURT RULING; COMPANY IS PLANNING TO APPEAL
LOS ANGELES, June 22 /PRNewswire/ -- ARCO (NYSE: ARC) said today it was "deeply disappointed" by a U.S. 9th Circuit Court decision resurrecting anti-trust charges dating back more than 20 years.
In a decision issued today, the Circuit Court reversed a 1986 summary judgment by Federal Judge William P. Gray dismissing charges against ARCO, Chevron, Exxon, Mobil, Shell, Texaco, and Unocal for allegedly conspiring to fix gasoline prices during the late 1960s and contriving a petroleum shortage in 1972-73.
The cases were ...