Minebea To Pay $9.8M To Settle Bearings Antitrust Claims

Law360, Los Angeles (March 17, 2017, 9:09 PM EDT) -- Japanese ball bearings maker Minebea Mitsumi Inc. will pay about $9.8 million to settle with a class of direct purchasers of small-sized bearings in a deal related to the massive auto parts antitrust multidistrict litigation, according to papers filed Friday in Michigan federal court.

A group of buyers had in an earlier suit accused NSK Ltd., another bearings maker, of colluding with the competition to fix prices on the parts, bearings with an outer diameter of 30 millimeters or less, used in a multitude of automotive functions, court records show. Minebea, an unnamed defendant in that suit, negotiated with the direct...

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