ADVFN - Advanced Financial Network.
HOME» NYSE » K » KSU Stock Price » KSU Stock News

Kansas City Southern Share News

 Kansas City Southern Stock Price
KSU Stock Price
 Kansas City Southern Stock Chart
KSU Stock Chart
 Kansas City Southern Stock News
KSU Stock News
 Kansas City Southern Company Information
KSU Company Information
 Kansas City Southern Stock Trades
KSU Stock Trades

Class-Action Status Granted in Fuel-Surcharge Case Against Railroads

By Bob Sechler The four top U.S. railroads have lost a key round in a long-running legal battle, after a federal judge on Thursday granted class-action status in a lawsuit alleging they colluded to inflate fuel surcharges paid by shippers by billions of dollars. The railroads--Union Pacific Corp. (UNP), CSX Corp. (CSX), Norfolk Southern Corp. (NSC) and Burlington Northern Santa Fe--have vehemently denied the allegations but previously have been unsuccessful in getting the case dismissed. CSX spokesman Gary Sease said CSX attorneys are reviewing Thursday's class-action decision by U.S. District Judge Paul L. Friedman and will "decide promptly" on whether to appeal it. Regardless, "CSX's fuel surcharge practices have always fully complied with the law, and we will continue to vigorously defend this litigation," he said. Stephen Neuwirth, an attorney for the plaintiffs, called the ruling "a very, very important victory in the case and a real vindication" for the shippers who filed it. "The railroads illegally conspired to develop and implement this fuel surcharge program," said Neuwirth, of Quinn Emanuel Urquhart & Sullivan LLP. "This is a very important step towards enabling the victims of this conspiracy to be compensated." Neuwirth declined to estimate the potential damages in the case, saying an expert study submitted by the plaintiffs remains under seal. But the American Chemistry Council, a trade group that includes many companies that ship products by rail, previously has contended that the top four railroads and Kansas City Southern (KSU) overcharged shippers by $6.4 billion through fuel surcharges between 2003 and early 2007. Named plaintiffs in the case include eight shippers, but Thursday's class-action ruling means any shipper that purchased unregulated freight transportation services from one of the defendant railroads from July 1, 2003, through 2008 is a member of it. -Write to Bob Sechler at bob.sechler@dowjones.com

Stock News for Kansas City Southern (KSU)
DateTimeHeadline
07/18/201418:49:34U.S. Hot Stocks: Hot Stocks to Watch
04/13/201408:46:33MARKET SNAPSHOT: Google, Intel, IBM Outlooks To Trump Earnings...
11/15/201309:10:30Caxton Associates LP 3Q 13F: Largest Eliminations
11/15/201309:10:28Caxton Associates LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:10:27Caxton Associates LP 3Q 13F: Holdings As Of Sep 30
11/15/201308:22:25Janus Capital Management 3Q 13F: Largest Purchases -2-
11/15/201308:22:24Janus Capital Management 3Q 13F: Largest Purchases
11/15/201308:22:24Janus Capital Management 3Q 13F: Holdings As Of -2-
11/15/201308:22:23Janus Capital Management 3Q 13F: Holdings As Of Sep 30
10/18/201309:04:12U.S. Hot Stocks Futures: Hot Stocks to Watch
05/31/201309:09:14U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
05/31/201309:01:42Correction to U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
07/17/201219:07:16Burlington Northern Slowed by Empty Coal Cars
06/21/201218:04:51Class-Action Status Granted in Fuel-Surcharge Case Against Railroads
01/26/201209:23:33US STOCK FUTURES: HOT STOCKS TO WATCH
10/07/201113:49:03White House Moves To Avert Freight-Rail Strike
06/22/201114:28:32Union Pacific CEO: Prospect Of Regulations Concerns Investors
12/08/201018:01:35Mexican Cargo Train Accident Cleared, Service Resumes
12/07/201011:14:10Mexican Cargo Trains Block Commuter Rail For Second Day
07/29/201019:17:52Grupo Mexico Mulls Separate Listing Of Railways - Official

Kansas City Southern and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad