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Air Cargo companies to pay US$100 million to settle price-fixing lawsuit
POLAR Air Cargo, Polar Air Cargo Worldwide, and Atlas Air Worldwide will pay US$100 million to settle a lawsuit filed against them by purchasers of air cargo services, reports Washington's Corporate Crime Reporter.
"We are very proud of what we have accomplished in this case over the past 10 years, most importantly the significant compensation we have obtained for victims," said Brent Landau, a partner at the Washington DC Hausfeld law firm.
The case continues against the three airline defendants remaining in the case: Air China, Air India, and Air New Zealand.
Last year, the US District Court granted certification of a class of direct purchasers of air cargo shipping services, and the US Court of Appeals for the Second Circuit declined to hear an interlocutory appeal of that ruling.
The district court also denied the defendants' motions for summary judgment and granted summary judgment motions filed by the plaintiffs. A trial is set for September 2016.
Nearly half of the original defendants in the civil action brought by Hausfeld and other law firms in February 2006 pleaded guilty to a conspiracy to fix the price of shipping goods by air to and from the United States.
"We are very proud of what we have accomplished in this case over the past 10 years, most importantly the significant compensation we have obtained for victims," said Brent Landau, a partner at the Washington DC Hausfeld law firm.
The case continues against the three airline defendants remaining in the case: Air China, Air India, and Air New Zealand.
Last year, the US District Court granted certification of a class of direct purchasers of air cargo shipping services, and the US Court of Appeals for the Second Circuit declined to hear an interlocutory appeal of that ruling.
The district court also denied the defendants' motions for summary judgment and granted summary judgment motions filed by the plaintiffs. A trial is set for September 2016.
Nearly half of the original defendants in the civil action brought by Hausfeld and other law firms in February 2006 pleaded guilty to a conspiracy to fix the price of shipping goods by air to and from the United States.
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