UPDATE 1-Expeditors Intl gets notice from Brazilian ministry

* Proceeding alleges possible anti-competitive behavior

* Co says intends to contest allegations

* Co says material penalties possible if found guilty

Aug 20 (BestGrowthStock) – Expeditors International of Washington
Inc (EXPD.O: ) said it, along with its Brazilian unit, received
an administrative proceeding from the Brazilian Ministry of
Justice, alleging the logistics firm infringed anti-competition
laws.

In a statement, Seattle-based Expeditors said it intends to
“vigorously” defend itself against the allegations.

Should Expeditors be found to have committed the
infringement, it may result in material fines and penalties,
the company added.

The company’s shares, which have gained 21 percent of their
value in the last six months, closed at $41.65 Friday on
Nasdaq.
(Reporting by Bijoy Koyitty in Bangalore; Editing by Maju
Samuel)

UPDATE 1-Expeditors Intl gets notice from Brazilian ministry