Automobile owners and lessees reached a $14 million settlement with auto parts maker Showa Corp. in a class action alleging that Showa was involved in a long-running scheme to fix the prices of powered steering assemblies and shock absorbers. The Japanese company settled with a proposed end-payor class that includes anyone in the U.S. who purchased or leased vehicles containing the parts or who indirectly purchased the products as replacement parts.
Attorneys for the class said they have now reached deals worth a total of $1.2 billion across the broader multidistrict litigation centered on price fixing and bid rigging in the auto parts industry.
The settlement is the latest in the that was started after a U.S. Department of Justice antitrust investigation into price-fixing and bid-rigging in the auto parts industry, a probe that was launched around 2010 in conjunction with Japanese and European authorities. In the U.S., officials have levied more than $2.9 billion in fines and secured the convictions of dozens of companies and individuals for activity covering dozens of auto parts.
Stoll Berne represents the Oregon class representative.
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.
Japanese auto parts maker Tokai Rika has agreed to settle claims against it for $34.2 million. The four proposed settlement classes include those who say they were overcharged for heating control panels, occupant safety restraint systems, switches and steering angle sensors. According to the motion for preliminary approval, the classes includes millions of buyers.
A proposed class of consumers that purchased automobiles have reached an $11 million settlement of their claims with Japanese auto parts maker Calsonic Kansei Corp. The complaint alleged that Calsonic was part of a conspiracy to fix prices for vehicle air conditioning systems.
Continental Automotive Electronics LLC has agreed to pay nearly $4 million to car buyers to settle antitrust claims related to multidistrict litigation over an alleged auto parts price-fixing scheme. The settlement relates to instrument panel clusters that the company sold for use in cars sold in the U.S.
Japanese car parts manufacturer, Sumitomo Electric Industries Ltd. has agreed to pay $50 million to exit multidistrict litigation brought by purchasers of automobiles who accuse a group of automotive wire harness and heater control panel suppliers of price-fixing.