Nippon Seiki To Pay $4.6M In 1st Auto Parts Settlement

Law360, New York (January 7, 2014, 7:19 PM EST) -- Nippon Seiki Co. Ltd.'s $4.56 million deal with consumers in the auto parts price-fixing multidistrict litigation marked a key first settlement, but attorneys cautioned Tuesday that it may not lead to an avalanche of deals as the plaintiffs pursue a complex case against nearly two dozen other defendants that have far more to lose.

Under the terms of the deal, the auto parts maker agreed to pay more than four times its $1 million fine from the government and also will cooperate with the end payor...
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