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K-Line settles in US class action suit

K-Line settles in US class action suit
Kawasaki Kisen Kaisha (K-Line) has reached a settlement in a class action suit in the US over price fixing in the car carrier business.

K-Line is the first to settle in the class action suit brought by a group of consumers and auto and truck and equipment dealerships in antitrust claims against more than 12 international shipping firms.

We are delighted to announce the first major settlement in the vehicle carriers case with K-Line," said attorney Warren T. Burns of Burns Charestinterim co-lead counsel for the end-payor plaintiffs. "This is a very significant and substantial first step to assure that American consumers are compensated for the conspiracy to fix the price of international car-shipping services. We expect to make the dollar amount public very soon as we file for preliminary approval of the class settlement."

Details of the settlement were not released.

Among the other shipping companies involved in the class action suit are Nippon Yusen Kaisha (NYK) and CSAV.