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Two Suppliers Paying $14.5 Mil in Price-Fixing Suit

Money being paid to new vehicle buyers, lessees.

by on Aug.28, 2015

Two more auto suppliers are paying millions of dollars in fines related to civil suits over price-fixing allegations in multiple countries.

The damages paid by auto suppliers involved in an international price-fixing scheme continue to rise as two more Japanese companies, Fujikura Ltd. and T.Rad Co. Ltd., have agreed to pay a total of more than $14.5 million to the plaintiffs in multi-district litigation against auto parts makers.

So far lawyers for the plaintiffs in the civil suits have now recovered nearly $200 million from the suppliers, most of whom are based in Japan.

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The civil litigation is independent of the criminal charges leveled against the suppliers by the U.S. Department of Justice and authorities in Japan and the European Union. Criminal fines and penalties leveled over the cartel-like behavior of the suppliers now total more than $2.5 billion. (more…)