Railroads Appeal Class Certification in Price-Fixing Lawsuit
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Four U.S. railroad companies appealed a ruling that turned a price-fixing lawsuit against them into a class action of as many as 30,000 shippers, arguing it could unfairly push them into settlements.
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., today asked the U.S. Court of Appeals in Washington to reverse the June 21 ruling, saying it exposes the companies to $10 billion or more in potential damages.