Auto Parts Maker Settles Price Fix Suit For $3.5M

By Khorri Atkinson (October 8, 2021, 5:21 PM EDT) -- A group of direct purchasers is urging a Michigan federal court to preliminarily approve a $3.5 million settlement they have reached with Japanese auto parts maker KYB Corp. to resolve allegations it conspired with other manufacturers to fix the price of shock absorbers.

Under the settlement reached last month, the buyers told U.S. District Judge Sean F. Cox Thursday that KYB agreed to assist with the prosecution of their antitrust violation claims concerning the sale of shock absorbers by providing information potentially relevant to nonsettling defendants Hitachi and Showa Corp.

The motion said negotiations that led to the settlement took months...

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