January 7, 2016 (Washington, DC) ---- 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 in the United States District Court for the Eastern District of New York. Hausfeld attorneys serve as Co-Lead Counsel in the case.
Polar Air Cargo, LLC, Polar Air Cargo Worldwide, Inc., and Atlas Air Worldwide Holdings, Inc., the most recent defendants to settle the litigation, have agreed to pay $100 million to direct purchasers of air cargo shipping services. This will be the second-largest payment from any settlement in the litigation. Settlements now total over $1.1 billion.
According to Brent Landau, Partner at Hausfeld, “We are very proud of what we have accomplished in this case over the past ten years, most importantly the significant compensation we have obtained for victims of this worldwide cartel.”
The case continues against the three airline defendants remaining in the case: Air China, Air India, and Air New Zealand. Last year, the district court granted certification of a class of direct purchasers of air cargo shipping services, and the U.S. 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. The plaintiffs allege that the cartel increased global shipping prices.
Hausfeld LLP attorneys working on this case include Michael Hausfeld, Brent Landau, Hilary Scherrer, and Melinda Coolidge.
Hausfeld is a leading global law firm with offices in Berlin, Brussels, London, New York, Philadelphia, San Francisco, and Washington, DC. The firm has a broad range of complex litigation expertise, particularly in antitrust/competition, financial services, sports and entertainment, environmental, mass torts, consumer protection, and human rights matters, often with an international dimension. Hausfeld aims to achieve the best possible results for clients through its practical and commercial approach, avoiding litigation where feasible, yet litigating robustly when necessary. Hausfeld’s extensive experience with alternative and innovative fee models offers clients a diverse menu of engagement options and maximum flexibility in terms of managing their cost exposure. Hausfeld is the only claimants’ firm to be ranked by the Legal 500 and Chambers & Partners as a top tier firm in private enforcement of antitrust/competition law in both the United States and the United Kingdom.
For more information about the firm, including recent trial victories and landmark settlements, please visit: www.hausfeld.com.