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Hausfeld Recovers Over $900 Million With Another Settlement in Air Cargo Price-Fixing Litigation

WASHINGTON, Oct. 14, 2014 (GLOBE NEWSWIRE) -- Hausfeld, 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 attorneys serve as Co-Lead Counsel in the case.

Asiana Airlines, the most recent defendant to bow out of the litigation, has agreed to pay $55 million to direct purchasers of air cargo shipping services. In all, twenty-five defendants have settled for over $900 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
China Airlines 90,000,000
Asiana Airlines 55,000,000
Total $903,357,442

According to Brent Landau, Partner at Hausfeld, "We are proud to announce the fifth settlement reached this year, now having obtained well over three quarters of a billion dollars in compensation from 25 different airlines for class members harmed by this seven year cartel."

The Plaintiffs' motion for class certification is fully briefed and pending decision. Nearly half of the original defendants in the civil action brought by Hausfeld 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@hausfeld.com
215-985-3273

NOTES TO EDITORS

About Hausfeld

Hausfeld is the leading global law firm that the world's leading organizations trust with their most complex competition matters. Our international reach enables us to advise across multiple jurisdictions and pursue claims on behalf of clients worldwide. We work closely with clients to deliver outstanding results while always addressing their business concerns. We do so by anticipating issues, considering innovative strategies, and maximizing positive outcomes of legal disputes in a way that creates shareholder value. Our risk-free approach ensures that our interests are closely aligned with the interests of our clients.

For further information please visit: www.hausfeld.com

Source:Hausfeld LLP