Total Settlements Exceed $100 Million
NEW YORK (September 23, 2014)—Plaintiffs have announced that additional settlements have been reached in the massive antitrust proceedings against automobile parts manufacturers. The settlements—which call for Yazaki Corporation and Yazaki North America, Inc. to pay $76 million and TRW Deutschland Holding Company GmbH and TRW Automotive Holdings Corp. to pay $5.4 million to class members—bring the total settlements in the End-Payor case to over $100 million. Class members include businesses and consumers who purchased or leased new automobiles.
Hollis Salzman of Robins, Kaplan, Miller & Ciresi L.L.P., Co-Lead Counsel for the End-Payor Plaintiffs and Co-Chair of the firm’s Antitrust and Trade Regulation Practice, represents a group of nearly 50 individuals who purchased or leased new automobiles containing the auto parts at issue in the litigation.
“Today’s settlements mark another victory in our continued pursuit of justice for consumers and businesses harmed by price-fixing,” said Salzman. “Each settlement brings us one step closer to securing full recovery for the class of injured consumers, and we’re pleased that these settlements continue to move us in the right direction.”
Total recoveries to date are reflected in the below infographic.
View the full Infographic (PDF) >
The allegations in the class actions stem from a Department of Justice antitrust investigation that has already resulted in corporate fines of $2.4 billion. To date, 28 different companies and 26 executives have pleaded or agreed to plead guilty as a result of the Department of Justice’s ongoing investigation into price-fixing and bid rigging in the auto parts industry.
Additional background
On Hollis Salzman:
- Salzman serves as Co-Chair of the Antitrust and Trade Regulation Practice at Robins, Kaplan, Miller & Ciresi L.L.P. in New York.
- Salzman also serves as Co-Lead Counsel in In re Air Cargo Shipping Services Antitrust Litigation, a private antitrust action against air cargo carriers that has resulted in more than $835 million in settlements to date.
- Salzman’s professional bio is available here.
- Robins, Kaplan, Miller & Ciresi L.L.P. attorneys Bernard Persky and William Reiss also represent the plaintiffs.
On civil proceedings:
- The case, formally titled In re Automotive Parts Antitrust Litigation, is a multi-district litigation (MDL) pending before the Hon. Marianne Battani in the United States District Court for the Eastern District of Michigan.
- The proceeding was coordinated before Judge Battani in June 2012.
- Federal and state law antitrust claims and state consumer protection claims against defendants accused of conspiring to fix prices of 29 different auto parts.
On criminal investigation:
- Companies that have submitted guilty pleas include Aisan Industry Co., Ltd., Autoliv Inc., Bridgestone Corporation, DENSO Corporation, Diamond Electric Manufacturing Co., Ltd., Electric Co., Ltd., Fujikura Ltd., Furukawa Electric Co., Ltd., G.S. Electech Inc., Hitachi Automotive Systems, Ltd., JTEKT Corporation, Koito Manufacturing Co., Ltd., Mitsuba Corporation, Mitsubishi Electric Corporation, Mitsubishi Heavy Industries, Ltd., NGK Spark Plug Co., Ltd., Nippon Seiki Co., Ltd., NSK Ltd., Panasonic Corp., Showa Corporation, Stanley Electric Co., Ltd., Takata Corp., Tokai Rika Co., Ltd., Toyo Tire & Rubber Co., Ltd., T. RAD Co., Ltd., TRW Deutschland Holding GmbH, Valeo Japan Co., Ltd., Yamashita Rubber Co., Ltd., and Yazaki Corp.
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