SoftBank Corp Partners With Sierra to Expand AI Customer Support Across Japan 
Nippon Paint Reportedly Offers Up to €7.5 Billion for Akzo Nobel Decorative Paints Business 
Kitron Q2 Revenue Beats Estimates as Defense Demand Lifts Growth 
Mastercard Explores Sale of Majority Stake in UK Payments Firm Vocalink: Report 
SK Hynix Shares Drop After Strong Nasdaq Debut Despite $26 Billion ADR Listing 
Yaskawa Electric Shares Slide as Weak Profit Overshadows Strong AI Demand 
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI 
Stellantis Q2 Vehicle Shipments Rise 10% as North America Drives Growth 
Paramount-Warner Bros. Discovery Merger Faces Lawsuit From 12 States 
OpenAI Executive Fidji Simo to Step Down Amid Health Challenges Ahead of IPO 
DOJ Grand Jury Investigates UAW President Shawn Fain Ahead of Union Election 
Nvidia Tightens AI Chip Sales in Asia With Stricter Customer Approval Process 
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
Arm Stock Falls After HSBC Downgrade, Citing Limited Near-Term AI Upside 
BHP Faces Major Port Hedland Strike as Labor Talks Stall Ahead of Production Report 
Apple Sues OpenAI, Former Employees Over Alleged Trade Secret Theft 
Morgan Stanley Names Marks & Spencer Top European Retail Pick, Sees Strong Upside 
WASHINGTON, Jan. 07, 2016 (GLOBE NEWSWIRE) -- Hausfeld, a global claimants’ law firm dedicated to handling complex litigation, announces that it has reached another settlement on behalf of the class in the Air Cargo Shipping Services Antitrust Litigation, pending in the United States District Court for the Eastern District of New York. Hausfeld attorneys serve as Co-Lead Counsel in the case.
Polar Air Cargo, LLC, Polar Air Cargo Worldwide, Inc., and Atlas Air Worldwide Holdings, Inc., the most recent defendants to settle the litigation, have agreed to pay $100 million to direct purchasers of air cargo shipping services. This will be the second-largest payment from any settlement in the litigation. Settlements now total over $1.1 billion:
| Defendant | Settlement Amount | ||
| Lufthansa | 85,000,000 | ||
| Air France/KLM/Martinair | 87,000,000 | ||
| American Airlines | 5,000,000 | ||
| Japan Airlines | 12,000,000 | ||
| SAS | 13,930,000 | ||
| All Nippon Airways | 10,400,000 | ||
| Cargolux | 35,100,000 | ||
| Qantas | 26,500,000 | ||
| Thai Airways | 3,500,000 | ||
| British Airways | 89,512,000 | ||
| Lan/ABSA | 66,000,000 | ||
| Malaysia Airlines | 3,200,000 | ||
| South African Airways | 3,290,000 | ||
| Saudia | 14,000,000 | ||
| Emirates | 7,833,000 | ||
| El Al Israel Airlines | 15,800,000 | ||
| Air Canada | 7,500,000 | ||
| Korean Air | 115,000,000 | ||
| Singapore Air | 92,492,442 | ||
| Cathay Pacific | 65,000,000 | ||
| China Airlines | 90,000,000 | ||
| Nippon Cargo Airlines | 36,350,000 | ||
| Asiana Airlines | 55,000,000 | ||
| EVA Airways | 99,000,000 | ||
| Polar Air Cargo/Atlas Air Worldwide Holdings | 100,000,000 | ||
| Total | $ | 1,138,407,442 | |
According to Brent Landau, Partner at Hausfeld, “We are very proud of what we have accomplished in this case over the past ten years, most importantly the significant compensation we have obtained for victims of this worldwide cartel.”
The case continues against the three airline defendants remaining in the case: Air China, Air India, and Air New Zealand. Last year, the district court granted certification of a class of direct purchasers of air cargo shipping services, and the U.S. Court of Appeals for the Second Circuit declined to hear an interlocutory appeal of that ruling. The district court also denied the defendants’ motions for summary judgment and granted summary judgment motions filed by the plaintiffs. A trial is set for September 2016.
Nearly half of the original defendants in the civil action brought by Hausfeld and other law firms in February 2006 pleaded guilty to a conspiracy to fix the price of shipping goods by air to and from the United States. The plaintiffs allege that the cartel increased global shipping prices.
Hausfeld LLP attorneys working on this case include Michael Hausfeld, Brent Landau, Hilary Scherrer, and Melinda Coolidge.
About Hausfeld
Hausfeld is a leading global law firm with offices in Berlin, Brussels, London, New York, Philadelphia, San Francisco, and Washington, DC. The firm has a broad range of complex litigation expertise, particularly in antitrust/competition, financial services, sports and entertainment, environmental, mass torts, consumer protection, and human rights matters, often with an international dimension. Hausfeld aims to achieve the best possible results for clients through its practical and commercial approach, avoiding litigation where feasible, yet litigating robustly when necessary. Hausfeld’s extensive experience with alternative and innovative fee models offers clients a diverse menu of engagement options and maximum flexibility in terms of managing their cost exposure. Hausfeld is the only claimants’ firm to be ranked by the Legal 500 and Chambers & Partners as a top tier firm in private enforcement of antitrust/competition law in both the United States and the United Kingdom.
For more information about the firm, including recent trial victories and landmark settlements, please visit: www.hausfeld.com.
For further information or to arrange interviews please contact: Brent Landau [email protected] 215-985-3273
