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

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WASHINGTON, Feb. 12, 2014 (GLOBE NEWSWIRE) -- 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, 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

Source:Hausfeld LLP