MILWAUKEE, June 3, 2019 /PRNewswire/ -- Hartley LLP and Heins Mills & Olson, P.L.C. announce that all persons and entities in the United States, and its territories and possessions, which purchased Aftermarket Automotive Sheet Metal Products ("AMSM") directly from Taiwan Kai Yih Industrial Co., Ltd., Tong Yang Industry Co., Ltd., TYG Products, L.P., Jui Li Enterprise Company, Ltd., Gordon Auto Body Parts Co. Ltd., AP Auto Parts Industrial, Ltd. (formerly known as Auto Parts Industrial, Ltd.), or Cornerstone Auto Parts, LLC between January 1, 2003 and September 4, 2009 (the "Class"), may be affected by a class action settlement with AP Auto Parts Industrial Ltd., formerly known as Auto Parts Industrial, Ltd. and its wholly owned subsidiary, Cornerstone Auto Parts, LLC (together "API").
Direct Purchaser Plaintiffs claim that Defendants violated the United States federal antitrust laws by agreeing to fix prices and limit supply for AMSM. AMSM includes hoods, doors, bumpers, fenders, bonnets, floor panels, trunk assemblies, trunk lids, tailgates, roof panels and reinforcement parts. Defendants have denied and continue to deny each and all of the claims and contentions alleged by Direct Purchaser Plaintiffs, as well as all charges of wrongdoing or liability. The Court has not decided in favor of either Party.
A proposed Settlement has been reached with AP Auto Parts Industrial Ltd. for USD$3,250,000 in cash, which, after Taiwan taxes, will net USD$2,600,000 in a settlement fund ("Settlement Fund"). Prior settlements were reached with Tong Yang Industry Co., Ltd., Taiwan Kai Yih Industrial Co., Ltd., and TYG Products, L.P., and Gordon Auto Body Parts Co. Ltd. After deducting costs, fees and expenses, the balance of the AP Auto Parts Settlement Fund will be distributed to the Class on a pro-rata basis depending on how much you spent on AMSM during the Class Period from all the Defendants.
You are included in the Court certified Class if you fit the following description: All persons and entities in the United States, and its territories and possessions, that purchased Aftermarket Automotive Sheet Metal Products directly from any of the Defendants between January 1, 2003 and September 4, 2009.
If you are included in the Court certified Class and you submitted a valid Claim Form in conjunction with the prior settlements, you will automatically receive a payment from this Settlement if it is approved and becomes final. If you did not exclude yourself from the certified Class, you may object to all or any part of the Settlement and give reasons why you think the Court should not approve it. Your written objection must be mailed to the Settlement Administrator, Class Counsel, Counsel for API, and the Court and must be postmarked no later than July 3, 2019. You may also request to appear and speak at the Final Approval Hearing. You may have your own attorney attend, at your own expense, but are not required to. More information regarding how to object to the Settlement and request to appear at the Final Approval Hearing can be found in the Long Form Notice available at www.AftermarketSheetMetalSettlement.com.
The Court will hold the Final Approval Hearing beginning at 11:00 a.m. on August 6, 2019, at the United States District Court for the Eastern District of Wisconsin. At this hearing, the Court will listen to any objections and consider whether to approve the Settlement as fair, reasonable, and adequate; a request by Class Counsel for attorneys' fees and expenses; and a service award of $10,000 to each of the Class Representatives (Fond du Lac Bumper Exchange Inc. and Roberts Wholesale Body Parts, Inc.). Class Counsel is requesting attorneys' fees in the amount of no more than 33% of the total Settlement Fund, payable only as a percentage of the funds actually deposited into the U.S. based escrow account, and payment of litigation costs and expenses. These costs and expenses include each law firm's reported expenses and common costs to date. Class Counsel's motion for attorneys' fees and costs and service awards will be available at www.AftermarketSheetMetalSettlement.com, on or about June 19, 2019.
For more information go to www.AftermarketSheetMetalSettlement.com, or call 1-866-413-5892.
SOURCE Hartley LLP and Heins Mills & Olson P.L.C.