Wabtec, Knorr-Bremse AG, and their affiliates will pay a combined $49 million to settle claims in Pittsburgh federal court that they agreed with other top railroad equipment makers not to poach one another’s workers.
The antitrust lawsuit accuses more than a dozen rail equipment makers of reducing employee mobility and suppressing wages by refraining from soliciting or hiring one another’s workers since 2009, the year Wabtec and Knorr reached a no-poach deal.
Similar agreements allegedly followed between Knorr and Faively Transport North America in 2011, and in 2014 between Wabtec and Faively, reported Bloomberg Law.
“We are very proud of this result,” said Lieff Cabraser partner Dean M. Harvey, Interim Co-Lead Class Counsel. “The settlements provide among the largest class member recoveries of any comparable case, and do so in record time.”
“These settlements were the product of extensive, hard-fought negotiations, provide significant payments to class members, and avoid the considerable risks, delays and expense of further litigation,” said Roberta Liebenberg, who is also serving as Interim Co-Lead Counsel and is a senior partner at Fine, Kaplan and Black.
The proposed settlements include a notice plan including the establishment of a case-specific website with relevant court documents and contact information, and a case-specific toll-free phone number that settlement class members may call to pose questions. Today’s motion requests that the Court grant preliminary approval of the settlements, direct Notice to the settlement class, determine a schedule for final approval, and conditionally certify the settlement class.
Full Content: Business Wire, Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI