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Hausfeld LLP Announces $65 Million Settlement with Cathay Pacific in Air Cargo Price-Fixing Litigation

 HAUSFELD LLP ANNOUNCES $65 MILLION SETTLEMENT WITH CATHAY PACIFIC IN AIR CARGO PRICE-FIXING LITIGATION:

Settlement Brings Total Recoveries to Over $750 Million; Eight Airlines Remain in the Case

February 12, 2014 (Washington, DC)  ---- Hausfeld LLP, a global claimants’ law firm dedicated to handling complex litigation, announces that it has reached another settlement on behalf of the class in the Air Cargo Shipping Services Antitrust Litigation, pending before Judge Gleeson in the Eastern District of New York. Hausfeld LLP serves as Co-Lead Counsel in the case.

Cathay Pacific, the most recent defendant to bow out of the litigation, has agreed to pay $65 million to direct purchasers of air cargo shipping services. This settlement follows December’s announcement that two other airlines, Korean Air Lines and Singapore Airlines, agreed to settlements totaling nearly $207.5 million. In all, twenty-three defendants have settled for over $758 million:

Defendant

Settlement Amount

Lufthansa

85,000,000

Air France/KLM/Martinair

87,000,000

American Airlines

5,000,000

Japan Airlines

12,000,000

SAS

13,930,000

All Nippon Airways

10,400,000

Cargolux

35,100,000

Qantas

26,500,000

Thai Airways

3,500,000

British Airways

89,512,000

Lan/ABSA

66,000,000

Malaysia Airlines

3,200,000

South African Airways

3,290,000

Saudia

14,000,000

Emirates

7,833,000

El Al Israel Airlines

15,800,000

Air Canada

7,500,000

Korean Air

$115,000,000

Singapore Air

$92,492,442

Cathay Pacific

$65,000,000

Total

$758,357,000

 

 

 

According to Michael Hausfeld, Chairman of Hausfeld LLP, “This settlement is an excellent result for the US class, which has now recovered over three quarters of a billion dollars in settlements from over twenty different airlines. We will continue our efforts to pursue recoveries both in the US and around the world.”

The Plaintiffs’ motion for class certification is fully briefed and pending decision. Still left in the case are defendants Air China, Air India, Air New Zealand, Asiana Airlines, China Air, EVA, Nippon Cargo Airlines, and Polar Air Cargo and its parent Atlas Air Worldwide Holdings.

Nearly half of the original defendants in the civil action brought by Hausfeld LLP and other law firms have pled guilty to a conspiracy to fix the price of shipping goods by air to and from the United States. The plaintiffs allege that the cartel increased global shipping prices.

Hausfeld LLP attorneys working on this case are Michael Hausfeld, Brent Landau, Hilary Scherrer, and Melinda Coolidge.

For further information or to arrange interviews please contact:

Brent Landau

blandau@hausfeldllp.com

 

 

 

 

215-985-3273

 

 

 

NOTES TO EDITORS

About Hausfeld LLP

Hausfeld LLP is a global claimants’ law firm providing litigation services in the areas of antitrust/competition law, human rights violations, product liability, civil rights, sports and entertainment, securities fraud, and consumer protection. In addition to its Washington headquarters, the firm has offices in Philadelphia, San Francisco, and London.

For further information please visit: www.hausfeldllp.com

 

Supporting Documents

» Hausfeld LLP Announces $65 Million Settlement with Cathay Pacific in Air Cargo Price-Fixing Litigation (PDF)