A fuel station supplier has filed a lawsuit against Trive Capital and two of its portfolio companies in federal court in Iowa claiming that the companies restricted competition in the US Midwest for gas pump distribution and servicing, which led to increased fuel prices, reported Reuters.
According to the complaint, Trive, Seneca Companies and OWL Services effectively blocked JF Petroleum Group from entering the Iowa and southern Illinois market using acquisitions to consolidate US pump distribution and servicing.
JF Petroleum Group claimed the action to be in violation of the US antitrust law.
The complaint further alleges that the defendants tried to obstruct Casey’s, the third-largest convenience store chain in the US, from engaging in business with JF Petroleum.
Dallas-based Trive, which manages more than $8bn in investments, responded to the allegations by stating, “the case and claims against Trive, OWL Services, and Seneca Companies are without merit”.
The company expressed its intention to contest the lawsuit.
A lawyer for JF Petroleum at the McGuireWoods law firm has yet to respond to a request for comment.
Headquartered in North Carolina, JF Petroleum supplies and maintains fuel pumps for petrol and diesel at prominent retail stations nationwide.
This lawsuit escalates the ongoing conflict between Trive’s Seneca, which offers fuelling equipment and support services, and JF Petroleum.
In a separate lawsuit, Seneca has accused JF Petroleum of interfering with existing and potential agreements with customers and employees, a claim that JF Petroleum has denied.
JF Petroleum claims to have invested millions of dollars in expanding into Iowa and southern Illinois, only to face “illegal obstacles at every turn”.
The lawsuit seeks unspecified monetary damages and a court order to halt the alleged anti-competitive business practices.
In a related development, Steelhead liquefied natural gas (LNG) initiated legal proceedings in December last year against Cedar LNG, Pembina Pipeline and ARC Resources in British Columbia, Canada.
The Vancouver-based LNG company alleges that the defendants wilfully exploited proprietary information for the benefit of the Cedar LNG project.
