US cartel case settlements break the $1bn mark
30 / 04 / 2015
SETTLEMENTS in the ongoing US air cargo antitrust litigation have exceeded the $1bn mark, following on from Eva Airways Corp reaching an agreement.
US lawfirm Robins Kaplan revealed that the Taiwanese airline yesterday reached a $99m partial settlement to compensate victims of the alleged cartel.
Hollis Salzman, co-lead counsel for the plaintiffs and partner and co-chair of the antitrust and trade regulation group at Robins Kaplan, said: “This development brings us one step closer to our final goal of compensating all victims of this global conspiracy.”
Price-fixing lawsuits were brought against EVA and a raft of other airlines in 2006, representing purchasers of international airfreight services, including importers and exporters of products to and from the US.
They allege that from between 2000 and 2006, major international cargo airlines from around the world conspired to inflate the price of shipping goods by air by manipulating their fuel and security surcharges.
Plaintiffs claim the conspiracy increased global shipping prices, costing businesses and individuals that ship goods by air billions of dollars in losses.
In separate criminal probes, 21 air cargo carriers have pleaded guilty to participation in the conspiracy and have agreed to criminal fines of more than $1.8bn.