Michael D. Hausfeld

EXPERIENCE

Antitrust/Competition

• In re Blue Cross Blue Shield Antitrust Litigation – In one of the largest and most complex antitrust class action cases ever litigated, Michael represented tens of millions of subscriber plaintiffs alleging higher premiums and loss of competition in the market for health insurance due to a conspiracy among 36 insurer defendants to allocate geographic territories. In November 2020, the Court granted preliminary approval to the proposed settlement agreement resolving the claims of Blue Cross Blue Shield subscribers for $2.67 billion. The settlement was unanimously affirmed by the Eleventh Circuit, and in June 2024, the U.S. Supreme Court declined any further review, paving the way for the distribution of billions of dollars to subscribers nationwide, along with systemic changes to BCBS practices that will create opportunities for more competition.
• In re Rail Freight Fuel Surcharge Antitrust Litigation  – Counsel to dozens of rail freight shippers in a high-profile antitrust case concerning alleged fuel surcharge collusion among the nation’s largest rail freight carriers.
• O’Bannon v. NCAA – Trial counsel in this landmark litigation regarding pay for student athletes; negotiated $40 million settlement with Electronic Arts, Inc., which was distributed among current and former college athletes.
• In re Domestic Airline Travel Antitrust Litigation – Currently leading this class action lawsuit alleging a conspiracy by United, American, Delta, and Southwest to artificially inflate domestic airline ticket prices by limiting capacity growth. Although discovery is ongoing, settlements total $60 million to date.
• In re Libor-Based Financial Instruments Antitrust Litigation – Currently leading this class action lawsuit alleging a global conspiracy by some of the world’s largest financial institutions to manipulate LIBOR. The manipulation of LIBOR, which is the primary benchmark for short-term interest rates for trillions of dollars-worth of financial transactions worldwide, is alleged to have caused billions of dollars in damage to municipalities, businesses, and investors. Settlements with four out of the sixteen defendants total $590 million to date.
• In re Foreign Exchange Benchmark Rates Antitrust Litigation - Currently leading this high-stake lawsuit alleging a global conspiracy by some of the world’s largest financial institutions to fix and manipulate foreign exchange rates, which to date has resulted in settlements totaling over $2.3 billion on behalf of investors. For its work on the case, the firm received Global Competition Review’s award for ‘Litigation of the Year – Cartel Prosecution.’
• In re Vitamin C Antitrust Litigation – Represented plaintiff class against Chinese vitamin C manufacturer defendants accused of price-fixing in settlements and successful trial. On appeal, the U.S. Supreme Court ruled 9-0 in favor of Hausfeld’s clients, creating an important precedent for any transnational litigation where U.S. victims’ rights are threatened by interpretations of foreign law and international comity principles.
• In re Vitamins Antitrust Litigation – Served as counsel on this landmark case on behalf of vitamin direct purchasers who were overcharged as a result of a ten-year global price-fixing and market allocation conspiracy. The case settled for over $1 billion, and in 2003 the case went to a jury trial resulting in a verdict of $148 million in trebled damages - the twelfth largest U.S. jury verdict that year.

Commercial & Financial Disputes

• In re Libor-Based Financial Instruments Antitrust Litigation - Currently leading this class action lawsuit alleging a global conspiracy by some of the world’s largest financial institutions to manipulate LIBOR. The manipulation of LIBOR, which is the primary benchmark for short-term interest rates for trillions of dollars-worth of financial transactions worldwide, is alleged to have caused billions of dollars in damage to municipalities, businesses, and investors. Settlements with four out of the sixteen defendants total $590 million to date.
• In re Foreign Exchange Benchmark Rates Antitrust Litigation - Currently leading this high-stake lawsuit alleging a global conspiracy by some of the world’s largest financial institutions to fix and manipulate foreign exchange rates, which to date has resulted in settlements totaling over $2.3 billion on behalf of investors. For its work on the case, the firm received Global Competition Review’s award for ‘Litigation of the Year – Cartel Prosecution.’
• MTB Investment Partners, LP v. Siemens Hearing Instruments, Inc. – Secured a securities fraud settlement that returned more than 115% of recognized losses after attorneys’ fees and expenses to former shareholders in HearUSA, Inc.

Environmental & Product Liability

• Children v. the Climate Crisis: Chiara Sacchi et al. v. Argentina, Brazil, France, Germany, and Turkey – In which Hausfeld and co-counsel Earthjustice represent 16 children from around the world, including Greta Thunberg and Alexandria Villaseñor, in a complaint filed before the UN Committee on the Rights of the Child alleging violations of children’s rights to life, health, and culture by five members of the G20 whose failure to reduce carbon emissions is perpetuating climate change. 

Human Rights

• South African Silicosis - Involved in litigation in both the UK and in in South Africa on behalf of South African gold miners who have suffered from silicosis. In South Africa, the Johannesburg High Court certified the case as a class action against most of South Africa’s gold mining industry.  Following certification, extensive negotiations resulted in a landmark settlement in May 2018.
• Low Income Bread Consumers - Currently at the forefront of competition claims in South Africa, having worked with South African counsel in groundbreaking litigation on behalf of low-income bread consumers. This case resulted in a landmark ruling by the Supreme Court of Appeal (SCA) which determined for the first time the specific requirements for filing a collective action in South African courts.
• Bhopal, India Union Carbide Plant - Represented residents of Bhopal, India who were exposed to toxic wastes. These wastes contaminated the soil and drinking water surrounding the infamous Union Carbide Plant, which was the site of the 1984 gas leak that killed and injured thousands of residents.
• Japanese "Comfort Women" - Represented former "comfort women," a title given to women and girls who were forced into sexual slavery during World War II.

Sports & Entertainment

•  O’Bannon v. NCAA – Trial counsel in this landmark litigation regarding pay for student athletes; negotiated $40 million settlement with Electronic Arts, Inc., which was distributed among current and former college athletes.