It's quite remarkable, really. A $300 billion market imploded, but plaintiffs firms can't figure out how to bring a viable suit. This time, a New York judge concluded their class action was a securities case in antitrust clothing.

The class, which includes a huge swath of U.S. industry, accuses CSX, Union Pacific, and others of fixing prices for fuel surcharges. Treble damages could run into the billions of dollars.

It was inevitable that the collapse of the $300 billion auction-rate securities market in 2008 would trigger securities litigation. But the ARS freeze also spawned a massive antitrust case, after a trio of plaintiffs firms cooked up a theory that the market's demise was triggered by an illegal boycott on the part of major banks.

Submitted May 27, 2009Before RUIZ, KRAMER and OBERLY, Associate Judges.Appellant James Hackney appeals from a Family Division order granting a Complaint for Entry of Judgment by Confession on th

SUBMITTED MAY 5, 2010"Before EASTERBROOK, Chief Judge, and COFFEY andHAMILTON, Circuit Judges.HAMILTON, Circuit Judge.This case presents issues concerning the application of United Stat

American Airlines and US Airways are pushing back hard against the U.S. Department of Justice, filing court papers blasting the government’s bid to block their pending $11 billion merger.