Law360, New York (August 8, 2013, 2:35 PM EDT) -- Mail Boxes Etc. Inc. and others alleging collusion in the freight forwarding industry urged a New York federal judge Wednesday to brush off criticism over the inclusion of most favored nation clauses in class action settlements with Nishi-Nippon Railroad Co. Ltd. and Vantec Corp. totaling $30.6 million.
Mail Boxes Etc., Precision Associates Inc. and others countered critics of the settlements who claim the MFN clauses, a provision commonly used in business contracts, will hinder the remaining Japanese defendants' ability to resolve the litigation.
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.