(Source: Bloomberg News, August 9, 2013)
NEW YORK — Four U.S. railroad companies won their bid to reverse a ruling that turned a price-fixing lawsuit against them into a class action with potential damages of at least $10 billion.
A three-judge panel of the U.S. Court of Appeals in Washington today threw out a decision by a lower-court judge who last year certified a class of about 30,000 shippers in a case against Union Pacific Corp., the largest U.S. carrier; CSX Corp., the third-largest; Norfolk Southern Corp.; and Burlington Northern Santa Fe, a unit of Warren Buffett’s Berkshire Hathaway Inc.
Full story: Bloomberg News