Yup. This type of stuff is a major no-no and is taught as such in pretty much every entry-level econ and business class. All of these executives know better and were simply trying to skirt the system. There's going to be a huge settlement over this.
"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices."
Doesn't that make this an 'aware' and 'intentional' crime, therefore the only resolution would be for him to go to prison for some time? Is it really possible for someone to settle their way out of this with a general prosecutor?
Unfortunately, the US class action system is somewhat corrupt and in many cases the suing attorneys get the lion's share of the money, while the class members get injunctive relief, a coupon, or a nominal payment. Or sometimes they get nothing at all, and a charity gets the money (this is called a cy pres award).
More information about the class action lawsuit: