OneService Files Suit Against FedEx

OneService, which provides specialized all-risk insurance for the transportation of valuables, including jewelry, has filed suit in United States District Court, Southern District of New York, seeking damages against Federal Express (FedEx) for violations of federal antitrust and competition laws. The company filed the lawsuit to prohibit FedEx from actions that it says would negatively affect the jewelry industry, including implementing significant price increases and restricting services. Two of OneService's competitors also have filed lawsuits against FedEx.

In a statement, OneService alleges that FedEx's DVX unit is "trying to capture the entire [jewelry] industry by unfairly exerting the power of FedEx in the overnight shipping business to dictate changes in service agreements resulting in significantly higher costs and reduced service levels to the jewelry industry."