Cathay Strikes $65M Settlement In Freight Price-Fixing MDL

Law360, New York (February 12, 2014, 6:52 PM EST) -- Cathay Pacific Airways Ltd. announced on Wednesday that it will pay $65 million to settle an antitrust class action accusing the company of taking part in a conspiracy to manipulate freight shipping prices, bringing the total settlements in the case to $758 million.

The agreement makes Hong Kong-based Cathay Pacific the 20th defendant to strike a settlement in the sprawling multidistrict litigation, following similar announcements by Korean Air Lines and Singapore Airlines. Once approved by the court, the settlement will allow Cathay Pacific to exit the...
To view the full article, register now.