On June 12, 2009, Labaton Sucharow LLP, as Co-Lead Counsel, obtained a $20 million partial settlement with Defendant Horizon Lines, Inc in In re Puerto Rican Cabotage Antitrust Litigation. On January 15, 2010, Plaintiffs obtained a $13.75 million partial settlement with Crowley. As part of the settlement, in lieu of receiving a cash payment, class members with a Transportation Service Agreement with Crowley may elect a two year freeze of its contract “base rate” in effect at the expiration of the contract. This would enable Crowley customers to avoid rate increases for a two-year period following the effective date of the settlement.

In this litigation, Plaintiffs allege that, between May 1, 2002 and April 17, 2008, Defendants, Horizon Lines, Sea Star Lines, Crowley Liner Services and Trailer Bridge, conspired to illegally fix the prices for the sea transportation of goods or persons between Puerto Rico and the continental United States.

The case is pending before the Honorable Daniel Dominguez in the District of Puerto Rico. The settlements are awaiting preliminary approval by the Court. The case continues against the remaining Defendants.