In re Air Cargo Shipping Services Antitrust Litigation
While Labaton Sucharow regularly prosecutes high-profile antitrust class actions, some cases stand out for their breadth of wrongdoing, the scope of the litigation and the impact of the plaintiffs' success. In 2015, the milestones reached in the Air Cargo matter put the case and the Firm in a class of their own.
In 2006, U.S. and European antitrust authorities raided numerous major airlines, uncovering a global price-fixing scheme through which the airlines are alleged to have unlawfully inflated cargo shipping fees over a period of more than five years. With nearly 40 defendants acting across six continents, the scope of the anticompetitive conduct was vast. In fact, 21 airlines pled guilty to U.S. criminal charges, collectively paying more than $1.8 billion in fines, and others accepted into government leniency programs. In addition, our case coincided with regulatory investigations in at least eight other jurisdictions across the globe.
Taking on tough adversaries in a case the presiding judge referred to as "irrefutably complex," Labaton Sucharow recovered over $1.2 billion in total settlements for the class, making Air Cargo one of the largest recoveries in an antitrust class action. And the Firm advocated for the class until each and every airline that engaged in the egregious misconduct was brought to justice. After a decade of litigation, plaintiffs recently reached settlements with the remaining two defendants, just four months before the scheduled trial.