Tecumseh To Pay $7M In Refrigerant Antitrust MDL

Law360, New York (June 29, 2010, 4:48 PM EDT) -- Tecumseh Products Co. has agreed to pay $7 million to direct purchaser plaintiffs in a multidistrict antitrust litigation over refrigerant compressors, putting to rest claims that the manufacturer engaged in a price-fixing conspiracy.

Tecumseh struck the settlement “to avoid the costs and distraction of this ongoing class action” in the U.S. District Court for the Eastern District of Michigan, it said in an 8-K filing with the U.S. Securities and Exchange Commission on Tuesday.

The MDL alleges a conspiracy that resulted in the plaintiffs having to...
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