SOURCE: Kaplan Fox & Kilsheimer LLP

May 19, 2016 20:34 ET

Kaplan Fox Announces Total Air Cargo Settlement of $1.24 Billion

NEW YORK, NY--(Marketwired - May 19, 2016) - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) announces a $12.5 million settlement subject to court approval between Air India Ltd. ("Air India") 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.

Plaintiffs have now entered into settlements with all 28 defendant groups totaling more than $1.24 billion, of which settlements with 24 defendant groups for $1.04 billion have been granted final approval by the court, and settlements with two defendant groups, including Air China Ltd. and Air China Cargo Co. Ltd. ("Air China") and 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") totaling $150 million have been granted preliminary approval by the court. Settlement with Air New Zealand for $35 million is awaiting preliminary approval by the court.

This is the final settlement in this hard fought litigation, which has been pending for more than a decade. The settlement was reached just months before a September 2016 trial date.

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.

For more information about the firm, including pending cases and landmark settlements, please visit: www.kaplanfox.com.

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