In separate motions filed last week, the two carriers said they would move forward with a class action settlement agreement first laid out last fall.
The shippers had said they were injured by paying more for moving freight between the mainland and Puerto Rico because liner companies and some executives “violated federal antitrust laws by entering into a combination, conspiracy or agreement to fix, maintain, raise, or stabilize the prices.”
Under the agreement, Crowley will contribute $13.75 million into a settlement fund and Sea Star $18.5 million. Horizon Lines has until Friday to decide whether to move forward with the agreement, under which it would contribute $20 million to the fund.
Shippers had the option to settle by agreeing to be paid out of the fund or to have their freight rates frozen for two years. They also could opt out of the settlement and pursuing litigation individually.
Crowley and Sea Star said sufficient numbers of shippers had decided to opt out of the settlement process that they could have terminated the agreement, but had decided to proceed with the settlement and waive their option to terminate.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now