Drivers who claimed getting shortchanged by the country's largest dry bulk carrier settled their lawsuit in federal district court in Chicago.
The lawsuit, filed in November 2003, alleged that Griffith, Ind.-based Bulkmatic Transport violated federal leasing regulations by failing to pay drivers as specified in the lease agreement, according to the Owner-Operator Independent Drivers Association. OOIDA filed the suit along with 10 drivers.
The lease required payment based on a percentage of gross revenue, OOIDA said. In August 2007, the court granted summary judgment in favor of the plaintiffs interpreting "gross revenue" to include all charges made by Bulkmatic to its customers. The court found that Bulkmatic's lease violated the leasing regulations.
The settlement resolves all remaining issues, according to OOIDA, including a compromise on the amounts in alleged unpaid compensation claimed by each of the 10 individual plaintiffs, plus attorneys' fees and costs.
OOIDA added that the compromise avoids the cost of continued litigation and an appeal of the findings of liability against Bulkmatic. Under the settlement Bulkmatic makes no admission of liability.