April 8, 2009
The Hartford Courant article, "The Hartford, Other Insurers Sued Over ‘Dumping’ of Cheap Chinese Food," provided news on the class action lawsuit, filed by Kelley Drye on behalf of five domestic food producers.
The article noted that the complaint asserts that a group of insurance companies issued "surety bonds" that allowed importers to bring in food products from China at below cost, or "dumped" prices. Defendants include U.S. Customs and Border Protection and the U.S. Department of Commerce, which are accused of failing to enforce four anti-dumping orders that were issued to protect domestic producers from these imports.
The article stated, "The dumping of these imports forced the domestic producers to significantly lower the prices for their competing products, causing the producers to lose hundreds of millions of dollars, said Michael Coursey, a partner in Kelley Drye & Warren, a law firm representing the plaintiffs."