Monday, May 12, 2014

CHINA AIRLINES PRICE FIXING

China Airlines to pay $90 millon in price-fixing lawsuit


Monday, May 12, 2014
China Airlines has agreed to pay $90 million to settle a class-action lawsuit stemming from charges of price fixing air cargo shipments to and from the United States.
The class-action suit — which has so far generated more than $848 million from 21 airlines including Lufthansa, Air France and American Airlines — is ongoing. Polar Air Cargo, Air New Zealand and Asiana Airlines are among the eight remaining defendants.
Hausfeld LLP announced the decision, which is pending the decision of a judge.
"This settlement is an excellent result for the US class, which has now recovered over three quarters of a billion dollars in settlements from over twenty different airlines,” Michael Hausfeld, chairman of Hausfeld LLP, said in a statement. “We will continue our efforts to pursue recoveries both in the US and around the world."