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...
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