financetom
Business
financetom
/
Business
/
Freight giant CSX's US Supreme Court appeal tests reach of antitrust law
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Freight giant CSX's US Supreme Court appeal tests reach of antitrust law
Dec 4, 2024 8:23 AM

Dec 4 (Reuters) - Freight rail giant CSX has asked the

U.S. Supreme Court to revive its lawsuit accusing rival Norfolk

Southern ( NSC ) of denying access to a key East Coast terminal, costing

CSX hundreds of millions of dollars in lost profits.

CSX said in its Supreme Court petition made public on Monday

that a U.S. appeals court in Richmond wrongly ruled that it sued

too late, missing a four-year window to bring claims for U.S.

antitrust law violations.

The statute of limitations should not apply in its case, CSX

argued, because Norfolk Southern's ( NSC ) alleged practice of

overcharging for access to the Norfolk International Terminals

in Virginia was continuing each day the fee remained in place.

CSX's petition gives the high court an opportunity to review

the "continuing-violation doctrine" in antitrust law. CSX said

clarity on the rule was needed "to avoid wasteful litigation,

misunderstandings about lawsuit deadlines, inconsistent

outcomes, and forum shopping."

The Supreme Court can decline to hear the appeal.

In a statement on Tuesday, Jacksonville, Florida-based CSX

said it "remains focused on its efforts to gain competitive

access" to the Norfolk terminal for its customers.

Norfolk Southern ( NSC ) declined to comment.

Large international container ships use the Norfolk terminal

to offload cargo onto trains and trucks for inland destinations.

Norfolk Southern ( NSC ) owns tracks at the dock, but CSX does not, and

so it must pay for access.

CSX sued in 2018, claiming Norfolk Southern ( NSC ) had conspired

with Norfolk & Portsmouth Belt Line Railroad Co to set an

excessive fee. CSX said as a result it has been barred from

entering into profitable contracts with ocean shippers.

The 4th U.S. Circuit Court of Appeals in August upheld a

judge's dismissal of CSX's case. The court said Norfolk

Southern's ( NSC ) rail charges "didn't inflict new harm causing new

injury to CSX within the limitations period."

CSX told the justices that the ruling served to create an

immunity shield that allows Norfolk Southern ( NSC ) to sidestep

competition at the Norfolk terminal and to charge higher prices

for rail customers.

"It is essential that antitrust violations remain actionable

when continuing violations cause renewed injury over time," CSX

said in its petition.

The case is CSX Transportation v Norfolk Southern Railway,

U.S. Supreme Court, No. 24-591.

For CSX: Charles Rothfeld of Mayer Brown

For Norfolk Southern ( NSC ): No appearance yet

Read more:

CSX loses bid in US appeals court to revive antitrust claims

against Norfolk Southern ( NSC )

Norfolk Southern ( NSC ) loses bid for legal fees after beating

rival CSX's lawsuit

U.S. judge scraps CSX jury trial in rail antitrust case

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Friday's Top 5 Trending Stocks: What's The Scoop On Palantir, Bloom Energy, Pfizer?
Friday's Top 5 Trending Stocks: What's The Scoop On Palantir, Bloom Energy, Pfizer?
Nov 15, 2024
Here’s a look at the top five trending stocks on Yahoo Finance.  Pfizer, Inc. ( PFE ) : Shares of vaccine stocks are down after President-elect Donald Trump pointed to Robert Kennedy Jr. as potentially the next Health and Human Services secretary. Trump has said he would let Kennedy go wild on health and could “do pretty much what he...
What's Going On With Oklo Stock Friday?
What's Going On With Oklo Stock Friday?
Nov 15, 2024
Oklo Inc. ( OKLO ) shares are trading lower on Friday. Following the market close on Thursday, the company reported earnings for the 2024 third-quarter. The Details: Oklo ( OKLO ) reported a loss of 8 cents per share, along with $288.5 million in cash, cash equivalents and marketable securities. Other key pieces of financial information in the report include...
EXPLAINER-What happens when Russian gas to Europe via Ukraine stops?
EXPLAINER-What happens when Russian gas to Europe via Ukraine stops?
Nov 15, 2024
(.) MOSCOW, Nov 15 (Reuters) - Austria's energy company OMV was informed by Gazprom that the Russian gas producer would halt deliveries of natural gas via Ukraine to OMV from 0500 GMT on Nov. 16 following OMV winning an arbitration case. Supplies of Russian gas to Europe via Ukraine may completely stop from Jan. 1 2025 after the current five-year...
Proficient Auto Logistics Insider Bought Shares Worth $496,800, According to a Recent SEC Filing
Proficient Auto Logistics Insider Bought Shares Worth $496,800, According to a Recent SEC Filing
Nov 15, 2024
12:58 PM EST, 11/15/2024 (MT Newswires) -- Richard D Odell, Director, Chief Executive Officer, on November 14, 2024, executed a purchase for 54,000 shares in Proficient Auto Logistics ( PAL ) for $496,800. Following the Form 4 filing with the SEC, Odell has control over a total of 753,802 shares of the company, with 753,802 shares held directly. SEC Filing:...
Copyright 2023-2026 - www.financetom.com All Rights Reserved