Panalpina Enters Into Preliminary Agreement To Settle U.S. Antitrust Class Action

Panalpina enters into preliminary agreement to settle U.S. antitrust class action

Oct 23, 2013

Panalpina entered into a preliminary agreement to settle a U.S. class action lawsuit alleging anticompetitive industry practices regarding certain freight surcharges. Panalpina agreed to pay an amount of USD 35 million, which includes previously received proceeds of USD 5.8 million, in an unrelated class action against various airlines. The settlement is subject to U.S. court approval and will impact the fourth quarter 2013 results.