Auto Parts Price Fixing Lawsuit Settlement
Agreement Reached in Auto Parts Price-Fixing Case
August 22, 2017
Automotive bearings manufacturer Nachi-Fujikoshi Corp. has reached an agreement in federal court in Michigan to pay $3.23 million to settle claims that it had engaged in a price-fixing scheme.
The settlement would put to rest the claims that the company had colluded with other auto parts makers to fix the prices of various kinds of bearings used in the manufacture of automobiles. Plaintiffs had alleged that the collusion had artificially and illegally inflated consumer prices of the bearings.
As part of the agreement, Nachi-Fujikoshi will cooperate in any future efforts to prosecute claims against other parts suppliers. The suit was originally filed in 2011.
The settlement class includes everyone who has bought or leased since 2000 a new vehicle with bearings made by several manufacturers, including Nachi, JTEKT, and NSK, among others.
If you believe that one or more manufacturers have conspired to artificially and illegally raise prices – and their own profits – from goods that you have purchased, you may be entitled to file a lawsuit. When you decide to file, contact the experts at TheLawFirm.com. We know our way around a courtroom.
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