Malaysia Airlines names it price
17 / 07 / 2011
US district judge John Gleeson is yet to approve Malaysia Airlines’ proposal to pay at least US$3 million for its part in the cargo price-fixing conspiracy.
Malaysian Airlines has not been charged with criminal wrongdoing, as some of the other settling airlines have, the lawyer representing the plaintiffs Brent Landau said. According to court filings Malaysia Airlines would also pay $150,000 to notify members of the case about the settlement.
It is the 12th proposed settlement since the lawsuit was initially filed in 2006, bringing the total proposed recovery to almost $500 million. More than 90 complaints have been filed and the plaintiffs are expected to file their motion for class certification on 28 October.
The US Department of Justice has charged 22 airlines and 21 executives in connection with their criminal probe into air-cargo price-fixing, so far imposing $1.8 billion in criminal fines.
