(The Associated Press circulated the following on February 28.)
NEW YORK — Union Pacific Corp. on Thursday said an attorney general of an unspecified state outside the company’s service area has issued a grand jury subpoena requesting documents pertaining to the company’s fuel surcharge program.
The Omaha, Neb.-based railroad operator said it has met with representatives of this attorney general’s office, and that it plans to have more meetings in the future in an effort to resolve that office’s interest in this matter, according to its annual report filed with the Securities and Exchange Commission.
Union Pacific has been named in various antitrust lawsuits alleging that company engaged in price-fixing by establishing common fuel surcharges for certain rail traffic.
The company said it received additional complaints during the 2007 third and fourth quarters, increasing the total number of complaints to 30.
On Nov. 6, the U.S. Judicial Panel on Multidistrict Litigation ordered that all of the rail fuel surcharge cases be transferred to the U.S. District Court in Washington, D.C. for coordinated or consolidated pretrial proceedings.
Union Pacific said it denies the allegations that its fuel surcharge program violates the antitrust laws or any other laws.
Union Pacific believes that these matters won’t have a material adverse effect on any of its operating results, financial condition, and liquidity, the SEC filing said.
Shares of Union Pacific fell $1.49, or 1.2 percent, to finish at $126.26 Thursday.