Automobile parts supplier Denso Corp. will pay about $193.8 million to car buyers and $61.2 million to automobile dealers to settle antitrust violations. The settlement, reported to a Michigan federal court last month, is the latest settlement in a sprawling multidistrict litigation (MDL) over price-fixing of car parts. The settlement, which is still subject to court approval, will require a total payout of more than $255 million. It will end the antitrust charges against Denso in a long-running MDL stemming from an ongoing U.S. Department of Justice investigation into the auto parts industry that yielded more than $2 billion in fines from various companies. The total amount of the settlements in the litigation is $482 million.
Denso pled guilty in March 2012 and paid a $78 million fine as part of the Department of Justice (DOJ) probe for its role in the conspiracy for fixing prices of heater control panels and electric control units from 2000 through February 2010 in violation of the Sherman Act. Numerous company executives have paid fines as well. Japan-based Denso supplies car companies including Toyota Motor Corp., Honda Motor Co., General Motors and Fiat Chrysler.
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