Total Recoveries Surpass $1 Billion in Air Cargo Antitrust Litigation
April 29, 2015
New York—April 29, 2015—An additional $99 million partial settlement, announced today with EVA Airways Corporation, brings total settlements in the closely watched air cargo antitrust litigation to over $1 billion. These partial settlements compensate victims of a global conspiracy to inflate prices of air freight shipping services, and resolve a nearly decade long case against dozens of major air freight carriers around the globe. The plaintiffs’ case against remaining defendants continues. Of the settlements to date, more than $485.5 million has received final approval by the court.
"This development brings us one step closer to our final goal of compensating all victims of this global conspiracy," said Hollis Salzman, Co-Lead Counsel for the plaintiffs and Partner and Co-Chair of the Antitrust and Trade Regulation Group at Robins Kaplan LLP. "We are very pleased with this settlement."
On October 15, 2014, Magistrate Judge Viktor V. Pohorelsky of the Eastern District of New York issued a 114-page opinion recommending that the court certify the putative class, calling it “undoubtedly the superior vehicle" for resolving plaintiffs' claims, and appoint Ms. Salzman as Co-Lead Counsel. As a result of the decision, the remaining defendants in this litigation may be liable for the total amount of damages to members of the class, which includes "hundreds of thousands of claims," according to the Court.
In separate criminal probes, 21 air cargo carriers have pleaded guilty to participation in the conspiracy and have agreed to criminal fines of more than $1.8 billion.
Meegan Hollywood of Robins Kaplan also represents the plaintiffs. The litigation, titled In re Air Cargo Shipping Services Antitrust Litigation, MDL No. 1775, is pending before the Hon. John Gleeson and Magistrate Judge Pohorelsky.
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