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Additional Settlement Drives Total Recoveries to Over $835 Million in Air Cargo Antitrust Litigation
May 8, 2014
New York—May 8, 2014—With an additional recent partial settlement announced today with China Airlines, Ltd. in the amount of $90 million, plaintiffs have recovered in excess of $835 million in settlements to date to compensate victims of a global conspiracy to inflate prices of air freight shipping services. These partial settlements resolve a nearly decade long case against dozens of major air freight carriers around the globe. The plaintiffs’ case against the remaining defendants continues. Of these settlements, more than $475 million has already received final approval by the court.
This most recent settlement follows several additional settlements obtained by the plaintiffs on the heels of a class certification hearing at the end of 2013 in the federal Eastern District of New York. The parties are awaiting the court’s decision on class certification. In separate criminal probes, 21 air cargo carriers have pleaded guilty to participation in the conspiracy and agreed to criminal fines in excess of $1.8 billion.
“We’re very pleased with this development, as it brings additional compensation to the many thousands of businesses harmed by this global conspiracy to inflate prices for air shipping services,” said Hollis Salzman, co-lead counsel for the plaintiffs and co-chair of the Antitrust and Trade Regulation Group at Robins, Kaplan, Miller & Ciresi L.L.P. in New York.
Robins, Kaplan, Miller & Ciresi L.L.P. attorney Meegan Hollywood also represents the plaintiffs.
The litigation, formally titled In re Air Cargo Shipping Services Antitrust Litigation, MDL No. 1775, is pending before the Hon. John Gleeson and Magistrate Judge Viktor V. Pohorelsky.
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