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 [email protected]

Stock News for Kansas City Southern (KSU)
01/20/201710:29:50Current Report Filing (8-k)
01/20/201709:21:00Kansas City Southern Results Pressured by Weak Energy Market
01/20/201708:00:00Kansas City Southern Reports Fourth Quarter and Full-Year 2016
01/19/201717:34:25Statement of Changes in Beneficial Ownership (4)
01/11/201712:00:00KCS, Watco, WTC Announce Mexico Refined Energy Products Terminal...
01/09/201710:20:00KCSMS Announces Appointment of Vice President Transportation...
01/06/201710:00:00KCS Announces Fourth Quarter Earnings Release and Conference...
12/20/201617:04:21Statement of Changes in Beneficial Ownership (4)
12/13/201618:11:45Statement of Changes in Beneficial Ownership (4)
12/13/201618:06:44Statement of Changes in Beneficial Ownership (4)
12/09/201617:11:10Statement of Changes in Beneficial Ownership (4)
11/28/201610:00:00KCS' Michael Upchurch to Address the Credit Suisse 4th Annual...
11/11/201616:00:00Kansas City Southern Declares Dividends on 4% Non-Cumulative...
11/09/201611:34:00U.S. Rail Industry Asks Donald Trump to Embrace 'Fair and Open...
11/04/201611:48:00Kansas City Southern Announces Results of 16th Annual Holiday...
11/01/201610:00:00KCS’ William Galligan to Address the Stephens Fall Investment C...
10/28/201609:30:00KCS’ Michael Upchurch to Address the Goldman Sachs Industrials C...
10/20/201609:40:00Union Pacific Profit Falls 13% on Demand Woes
10/18/201611:30:03Quarterly Report (10-q)
10/18/201610:51:11Current Report Filing (8-k)

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations