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Sumitomo Electric Industries has agreed to a $50 million mulitdistrict litigation settlement over allegations from U.S. car dealerships that the Japanese auto parts company engaged in price-fixing.
The group of plaintiffs announced the Sumitomo price-fixing MDL settlement on Wednesday stating that this deal brings the total settlement in the end-payor lawsuit to more than $200 million.
The Sumitomo auto parts MDL settlement is part of an ongoing, massive antitrust litigation stemming from a U.S. Department of Justice auto parts price-fixing investigation which has led to corporate fines of more than $2.5 billion. The Department of Justice investigation into the auto parts industry has currently led to more than 35 different companies pleading guilty to price-fixing or bid-rigging.
According to a statement released by Sumitomo, “Compliance with competition laws remains one of the highest priority items for our business, and we will strive to engage in business activities in a fair manner.”
Several auto part manufacturers have already agreed to settle the antitrust allegations. According to court documents, Japan-based Denso pleaded guilty to price-fixing electronic control units and heater control panels and was forced to pay $78 million in 2012.
In September 2014, Yazaki Corp. reached a $76 million auto parts MDL settlement which accused the company of price-fixing instrument panel clusters, fuel senders and wire harnesses.
TRW Automotive Holdings Corp. also agreed to pay $5.4 million in September 2014 in order to settle allegations that the company conspired to price-fix occupant safety systems.
Hitachi Automotive Systems Ltd. reached a $46.7 million dollar settlement over price-fixing allegations in April 2015; while Fujikura Ltd. and T.Rad Co. Ltd. agreed to a $14.5 million MDL settlement in August.
The court released several auto parts companies from the MDL in August, but U.S. District Judge Marianne O. Battani refused to dismiss antitrust allegations against Denso, Mitsuba Corp., Mitsubishi Electric Corp., Robert Bosch GmbH, Asian Corp. of America, Toyo Automotive Parts (USA) Inc., ASMO Co. Ltd. and others.
The Sumitomo auto parts antitrust MDL settlement will be open to all Class Members who purchased or leased new automobiles either as an individual or as a business.
More information about the Sumitomo price-fixing settlement was not immediately available. Keep checking TopClassActions.com or sign up for our free newsletter for the latest updates. You can also mark this article as a “Favorite” using your free Top Class Actions account to receive notifications when this article is updated.
The end-payor plaintiffs are represented by E. Powell Miller and Devon P. Allard of The Miller Law Firm PC, Steven N. Williams, Adam J. Zapala and Elizabeth Tran of Cotchett Pitre McCarthy LLP, Hollis Salzman, Bernard Persky and William V. Reiss of Robins Kaplan LLP, and Marc M. Seltzer, Steven G. Sklaver, Terrell W. Oxford and Omar Ochoa of Susman Godfrey LLP.
The Sumitomo Auto Parts Price-Fixing MDL Settlement is In re: Automotive Parts Antitrust Litigation, Case No. 2:12-md-02311, in the U.S. District Court for the Eastern District of Michigan.
UPDATE: September 2017, the automotive wire harness antitrust class action lawsuit have secured settlements from five defendants worth more than $249 million. Click here to file a claim.
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