Auto Parts Price-Rigging Settlement Set at $23M
Dec. 6, 2019—California Attorney General Xavier Becerra announced a $23 million settlement in a price-fixing case that involves 52 auto parts makers.
The Associated Press reports that the lawsuit accused the companies of conspiring to fix prices on automakers' requests for bids.
The largest single settlement was with DENSO Corp, according to the story. The company reached a figure of $4.25 million.
Much of the settlement costs for the state of California represent the higher costs allegedly paid by state agencies. Individual auto buyers could be eligible for a piece of restitution as well by registering at www.autopartsclass.com.
The AP noted that this state-level settlement comes after a U.S. Department of Justice investigation that led to 42 companies pleading guilty to price fixing charges and up to $3 billion in fines.