SAN FRANCISCO, July 14, 2016 /PRNewswire/ -- On July 14, 2016, attorneys representing American consumers and businesses announced that a $193.8 million settlement has been reached in In re Automotive Parts Antitrust Litigation ("Auto Parts"), the unprecedented litigation stemming from an alleged long-running international price-fixing conspiracy. "We are very proud of this recovery, which will provide a real and meaningful benefit to the consumers and businesses we represent," said Hollis Salzman of Robins Kaplan LLP, interim co-lead counsel for the End-Payor Plaintiffs.
The settlement, which is the largest in the case to date, calls for DENSO Corp. and its affiliates ("DENSO") to pay $193.8 million to members of the End-Payor Plaintiff Classes, which include business and consumers that purchased or leased new automobiles and similar vehicles not for resale containing certain automotive parts sold by DENSO, or that indirectly purchased certain replacement automotive parts sold by DENSO. "Today's settlement brings the recoveries in this case to $482 million. This settlement and this litigation have been difficult and hard-fought since the case began in 2011, and we will continue this fight against the remaining defendants to recover for our clients and the classes," said Steven N. Williams of Cotchett, Pitre & McCarthy, LLP, interim co-lead counsel for the End-Payor Plaintiffs.
The litigation involves allegations that the leading automotive parts makers engaged in a long-running conspiracy to rig bids and fix the prices that they charged to automakers. The End-Payor Plaintiffs allege that this unlawful conduct resulted in artificially high prices for automotive parts that were then passed on to the ultimate customer, consumers, and businesses that purchased new cars and other vehicles in the U.S. End-Payor Plaintiffs allege that the conspiracy spanned more than a decade and involved illegal conduct throughout the world. "We are continuing our vigorous prosecution of this litigation against the remaining defendants and will be seeking, either by settlement or trial, additional recoveries for the consumers and businesses we represent," said Marc M. Seltzer of Susman Godfrey L.L.P., interim co-lead counsel for the End-Payor Plaintiffs.
Steven N. Williams of Cotchett, Pitre & McCarthy, LLP, Hollis Salzman of Robins Kaplan LLP, and Marc M. Seltzer of Susman Godfrey L.L.P. are interim co-lead Counsel for the End-Payor Plaintiffs in Auto Parts. DENSO is headquartered in Kariya, Japan, and is one of the world's largest global automotive parts suppliers. DENSO supplies numerous automotive parts to various automakers, including Toyota, Honda, General Motors, and Chrysler, among others.
For questions please contact: Hollis Salzman (212-980-7405), Steve Williams (650-245-8022) or Marc Seltzer (310-789-3100).
SOURCE Cotchett, Pitre & McCarthy, LLP