More Turbulence for Qantas

[Ikara]

There is an article in this morning's Herald Sun with the heading of "More Turbulence for Qantas" and it discusses the share price drop yesterday. One of the things that caught my eye was the following....

Giving the sell-off a touch more momentum, a US court yesterday set the airline 15 days to pay its $US61 million ($A67.73 million) fine for participating in a cargo price-fixing cartel.
The fine is expected to be dwarfed by multi-million dollar civil damages claims filed against the airline in at least three separate civil class actions in Australia and the US by the airline's customers.

Does anyone know what these class actions are about? Am I possibly missing out on something here? (only joking!)

JB

 

[Yada Yada]

There is an article in this morning's Herald Sun with the heading of "More Turbulence for Qantas" and it discusses the share price drop yesterday. One of the things that caught my eye was the following....

Giving the sell-off a touch more momentum, a US court yesterday set the airline 15 days to pay its $US61 million ($A67.73 million) fine for participating in a cargo price-fixing cartel.
The fine is expected to be dwarfed by multi-million dollar civil damages claims filed against the airline in at least three separate civil class actions in Australia and the US by the airline's customers.

Does anyone know what these class actions are about? Am I possibly missing out on something here? (only joking!)

You can read all about it here:
http://www.mauriceblackburn.com.au/areas/areas_documents/class_actions_air_cargo.pdf

I registered our company's interest with MBC for this case because we frequently airfreight product from the USA. There is no cost to do this however if you expect to reap any benefit if a settlement is reached, then you have to pay up!

 

[NYCguy]

You can read all about it here:
http://www.mauriceblackburn.com.au/areas/areas_documents/class_actions_air_cargo.pdf

I registered our company's interest with MBC for this case because we frequently airfreight product from the USA. There is no cost to do this however if you expect to reap any benefit if a settlement is reached, then you have to pay up!

They'll just take it out of your settlement amount. Or put another way, they'll take most of you settlement amount, then regale you with tales about how much they enjoyed fighting for justice and the TRUTH!


Q: Why don't sharks bite lawyers?

A: Professional courtesy.

 

[Yada Yada]

They'll just take it out of your settlement amount. Or put another way, they'll take most of you settlement amount, then regale you with tales about how much they enjoyed fighting for justice and the TRUTH!


Q: Why don't sharks bite lawyers?

A: Professional courtesy.

Yeah, I know.

While I've registered our interest and now receive their letters, I am not planning on paying them anything. I've attended enough receivership meetings in my time that I know these guys are just creating business for themselves and don't care about those they are supposedly working for.

 

[Yada Yada]

For those interested, there is another story in the news today about the class action.

MBC claims there will be 1,000 companies involved.

Law firm to target six Qantas bosses | The Australian