Kaplan Fox Announces $65 Million Settlement with Cathay Pacific Airways Ltd.

Feb 12, 2014, 11:14 ET from Kaplan Fox & Kilsheimer LLP

NEW YORK, Feb. 12, 2014 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) announces a $65 Million settlement subject to court approval with Cathay Pacific Airways Ltd. in In re: Air Cargo Shipping Services Antitrust Litigation, 06-MD-1775 (JG) (VVP), a multi-district litigation pending in the Eastern District of New York.

To date, plaintiffs have entered into settlements with 20 defendant groups totaling $758 million, of which settlements with seventeen defendant groups for $485.5 million have been granted final approval by the court.

These settlements are for significant percentages of defendants' relevant sales of air cargo shipping services to and from the United States. This litigation is still pending against eight defendant groups.

Kaplan Fox serves as one of four co-lead counsel representing a class of direct purchasers from defendants of air cargo shipping services for shipments to, from and within the United States seeking compensation for alleged overcharges sustained as a result of a price-fixing conspiracy alleged against over two dozen airlines.

You may contact the following Kaplan Fox attorneys about the case and the settlement at (212) 687-1980:

Robert N. Kaplan: rkaplan@kaplanfox.com
Gregory K. Arenson: garenson@kaplanfox.com

SOURCE Kaplan Fox & Kilsheimer LLP