Investing.com -- The U.S. Supreme Court declined to hear an appeal from CSX (NASDAQ: CSX ), a freight rail behemoth, on Monday. The company had hoped to revive its antitrust lawsuit against its competitor, Norfolk Southern (NYSE: NSC ). CSX accused Norfolk Southern of unlawfully limiting access to a crucial terminal on the East Coast, located in Virginia. The restricted access allegedly resulted in CSX losing hundreds of millions of dollars in potential profits.
CSX’s appeal was against a lower court’s decision from last year. The lower court ruled that the Jacksonville, Florida-based company had filed its lawsuit too late, missing a four-year window to bring claims for U.S. antitrust law violations. CSX had argued that this statute of limitations should not apply to its lawsuit.
In 2018, CSX took legal action against Norfolk Southern in a federal court in Virginia. The company accused Norfolk Southern and Norfolk & Portsmouth Belt Line Railroad Co of conspiring to impose an excessive fee for services at Virginia’s Norfolk International Terminals. This terminal is among the most significant on the East Coast.
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