Showa Strikes $14M Deal With Consumers In Auto Parts MDL

Law360 (July 12, 2019, 7:25 PM EDT) -- Consumers struck a $14 million settlement Thursday with auto parts maker Showa Corp. over allegations involving its part in a long-running scheme to fix the prices of powered steering assemblies and shock absorbers.

The Japanese manufacturer signed the deal with a proposed end-payor class that includes anyone in the U.S. who purchased or leased vehicles containing the parts or who indirectly purchased the products as replacement parts. In a motion seeking preliminary approval, the buyers said they have now reached deals worth a total of $1.2 billion across the broader multidistrict litigation centered on price fixing and bid rigging in the...

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