Antitrust Law Daily Wrap Up, ANTITRUST—N.D. Cal.: Co-lead counsel appointed in Korean noodle price fixing action after possible conflict addressed, (Feb 24, 2014)
Law Firms Mentioned:Cotchett Pitre & McCarthy LLP | Hausfeld LLP | Saveri & Saveri Inc. | Squire Sanders LLP
Organizations Mentioned:Cotchett Pitre & McCarthy, LLP | Diaz Wholesale & Manufacturing Co. Inc. | El Jarocho Inc. | Glancy Binkow & Goldberg, LLP | Hausfeld, LLP | Lowey Dannenberg Cohen & Hart, PC | Nong Shim America Inc. | Pitco Foods | Saveri & Saveri, Inc. | Squire Sanders & Dempsey | Summit Import Corp.
By Jeffrey May, J.D.
Hausfeld LLP has resolved questions about a possible conflict that might prevent the firm from serving, along with Glancy Binkow & Goldberg LLP, as co-lead counsel in price fixing litigation against producers of Korean noodles, the federal district court in San Francisco has decided (In Re Korean Ramen Direct Purchaser Antitrust Litigation, February 20, 2014, Orrick, W.).
The court conditionally appointed Hausfeld and Glancy Binkow & Goldberg as interim co-lead counsel earlier this month. The appointment was conditioned on Hausfeld satisfactorily addressing an alleged conflict regarding DR & AJU, a Korean law firm associated with Hausfeld, and that firm’s representation of the Korean Fair Trade Commission (KFTC). The possible conflict was raised by Lowey Dannenberg Cohen & Hart, P.C., which represented other plaintiffs in the litigation.
The KFTC issued a July 12, 2012 order, finding that Korean noodle producers had conspired to fix the prices and imposing monetary and injunctive relief, including 136 billion won (approximately U.S. $120 million) in fines.
In response to the court’s request, Hausfeld explained that DR & AJU took no role in the KFTC proceedings that led to the July 2012 order, regarding the alleged conspiracy underlying the complaints filed in the putative class action. Moreover, Hausfeld and Glancy Binkow & Goldberg pledged that they, and not DR & AJU, “will be making all of the decisions of how this action should be prosecuted and their actions will be guided by what is in the best interests of the putative class of direct purchasers.” In addition, DR & AJU has agreed to take prompt corrective action if any conflict should arise as a result of DR & AJU’s representation of the KFTC.
This is Case No. 13-cv-04148-WHO.
Attorneys: Steven Noel Williams (Cotchett Pitre & McCarthy LLP) for Pitco Foods. Christopher L. Lebsock (Hausfeld LLP) for Direct Purchaser Plaintiffs. Richard Alexander Saveri (Saveri & Saveri Inc.) for Summit Import Corp., El Jarocho Inc., and Diaz Wholesale & Manufacturing Co. Inc. Mark C. Dosker (Squire Sanders LLP) for Nong Shim America Inc.
Companies: Summit Import Corp.; El Jarocho Inc.; Diaz Wholesale & Manufacturing Co. Inc.; Nong Shim America Inc.; Pitco Foods
Cases: Antitrust CaliforniaNews