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US: Judges grant railroad giants’ appeal of price-fixing case class action status

 |  August 9, 2013

Four major US railroads won an appeal Friday as a three-judge panel of the US Court of Appeals in Washington reversed a lower court’s class certification of about 30,000 shippers suing the railroads for price-fixing. The class certification meant damages in the case could have reached $10 billion. The nation’s largest carrier, Union Pacific Corp., along with CSX Corp., Norfolk Southern Corp. and Burlington Northern Santa Fe appealed the class certification that was granted last year. In the ruling, Circuit Judge Janice Rogers Brown said that the lower court had underestimated potential damage to the railroads through granting the class action status; the judges further found flaws in how potential damages were initially calculated.

Full Content: Bloomberg

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