New York, NY—October 10, 2016—Robins Kaplan LLP® announced today that a $47.5 million settlement has been reached in In re Automotive Parts Antitrust Litigation, the unprecedented, ongoing multidistrict litigation (MDL) stemming from the largest criminal antitrust investigation in U.S. history. The settlement calls for JTEKT to pay $47.5 million to members of the end-payor plaintiffs classes, which include consumers and businesses that allegedly purchased or leased new automobiles at inflated prices as a result of price-fixing and other anticompetitive conduct among manufacturers of Automotive Bearings and Electric Powered Steering Assemblies. Total settlements in the end-payor plaintiffs cases have now surpassed $650 million.
Total recoveries to date are reflected in the below infographic:
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Hollis Salzman, co-lead counsel for the end-payor plaintiffs and co-chair of Robins Kaplan LLP’s Antitrust and Trade Regulation Practice, along with attorneys Bernard Persky, William Reiss, and David Kurlander, represent a group of more than 50 individuals who purchased or leased new automobiles containing the auto parts at issue in the litigation.