Kaplan Fox announces that Air Cargo settlements is now more than $1.1 billion

Jan 07, 2016, 18:38 ET from Kaplan Fox & Kilsheimer LLP

NEW YORK, Jan. 7, 2016 /PRNewswire-USNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) announces a $100 million settlement subject to court approval between Polar Air Cargo LLC, f/k/a Polar Air Cargo, Inc., Polar Air Cargo Worldwide, Inc., and Atlas Air Worldwide Holdings, Inc. ("Polar Air Cargo") and a plaintiff class 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. This is the second largest settlement achieved to date in this litigation, which has been active for almost a decade.

To date, plaintiffs have entered into settlements with 25 defendant groups totaling $1.14 billion, of which settlements with 22 defendant groups for $848 million have been granted final approval by the court.

This litigation is still pending against three defendant groups, including Air China Ltd. and Air China Cargo Co. Ltd., Air India Ltd. and Air New Zealand Ltd.

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 or from the United States between January 1, 2000, and September 30, 2006, 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