SOURCE: Kaplan Fox & Kilsheimer LLP
NEW YORK, NY--(Marketwired - Dec 20, 2013) - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) announces a $115 Million settlement subject to court approval with Korean Air Lines Co., Ltd. ("Korean Air") 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.
Kaplan Fox also announces a settlement with Singapore Airlines, Ltd. and Singapore Airlines Cargo PTE, Ltd. ("Singapore Airlines") in the same litigation. The Settlement Agreement states that the Settlement Amount, subject to court approval, is approximately $92,492,442.
To date, plaintiffs have entered into settlements with 19 defendant groups totaling $693 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 nine 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.