October 9, 2018 (Washington, DC) – Hausfeld and its co-counsel received the American Antitrust Institute’s (AAI) award for Outstanding Antitrust Litigation Achievement in Private Law Practice for their trial and appellate victories in In re Vitamin C Antitrust Litigation. Representing a class of direct purchasers of vitamin C against a price-fixing cartel made up of Chinese manufacturers of vitamin C, the trial team had previously secured a $153 million victory for the class. The Second Circuit overturned that victory on the grounds that it was “bound to defer” to statements that the Chinese Ministry of Commerce submitted in amicus briefs arguing that the defendants had been required to engage in price-fixing under Chinese law and thus should be immune from liability in the US. This year, the Supreme Court unanimously sided with the class of purchasers represented by Hausfeld, holding that a US court “should accord respectful consideration to a foreign government’s submission, but is not bound to accord conclusive effect to the foreign government’s statements.” Hausfeld attorneys who contributed to the Vitamin C victories include Michael Hausfeld, Brian Ratner, Brent Landau, and Melinda Coolidge.
Hausfeld partner Melinda Coolidge stated: “We are grateful for the American Antitrust Institute’s recognition of our decade-long effort to ensure that victims of price-fixing are properly compensated and US antitrust laws are enforced, and we look forward to continuing our efforts before the Second Circuit.”
Additionally, Hausfeld attorney Sarah R. LaFreniere was awarded AAI’s Outstanding Antitrust Litigation Achievement by a Young Lawyer for her excellent contributions to In re Foreign Exchange Benchmark Rates Antitrust Litigation. The Foreign Exchange case alleges that the world’s largest financial institutions conspired to manipulate prices paid in the foreign exchange financial market. To date, Hausfeld and its co-counsel has achieved $2.3 billion in settlements for class members.
Ms. LaFreniere is the primary associate at Hausfeld working on this matter and has played a key role in mediations, final approval, notice and claims administration, deposition preparation, class certification, and expert work.
Sarah LaFreniere stated: “I am very honored by the AAI recognition. The Foreign Exchange case represents remarkable results for class members, and I am proud to be a part of the FX team.”
The Honorees will be featured at a gala awards dinner on Wednesday, November 14, following the AAI’s Annual Private Antitrust Enforcement Conference.
For more information, including the full list of award winners, please visit here.