EU Shippers Threaten Air France-KLM With Cartel Claim

Law360, New York (July 13, 2010, 7:01 PM EDT) -- Air France-KLM Group, having reached a tentative deal with direct purchasers, is facing a reported €335 million ($425 million) threat from European indirect purchasers planning to sue the airline for its alleged role in a scheme to fix prices in the air cargo industry.

Attorneys sent Air France-KLM a demand letter Monday on behalf of European Union-based indirect purchasers who claim they paid a premium to ship goods because of the alleged scheme, according to Michael Hausfeld, chairman of Hausfeld LLP.

“Outside the U.S. it appears...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.