Yazaki Corp. has agreed to pay $76 million to resolve claims brought against it by certain consumers in a multidistrict antitrust class action accusing the Japanese auto parts maker and several others of bid-rigging and fixing prices. The agreement would resolve claims brought by the consumer Plaintiffs against Yazaki in three cases pending before the court. The settlement includes claims brought against Yazaki in cases involving Automotive Wire Harness Systems, Instrument Panel Clusters and Fuel Senders.
Yazaki, which has already paid the U.S. Department of Justice $470 million in fines, said it would settle for an undisclosed amount with indirect purchasers, such as end-payors and dealerships. Yazaki and TRW Deutschland Holding GmbH signaled at the same time that they would seek to resolve some of the claims in the sprawling multidistrict litigation (MDL) consolidated in a Michigan federal court over alleged price-fixing in the auto parts industry. Yazaki and TRW were some of the latest auto parts manufacturers to settle with Plaintiffs in the MDL. In June, Autoliv Inc. also agreed to pay $65 million to settle with direct purchasers, auto dealers and consumers.
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