News

Parts Supplier to Settle Antitrust Claims for $212 Million

Order Reprints

Jan. 19, 2017—Japanese automotive parts suppliers Yazaki Corporation and Chiyoda Manufacturing Corporation agreed on Wednesday to pay $212 million and $1.15 million, respectively, to settle a lawsuit in Michigan federal court with purchasers of their products alleging the companies conspired to fix prices for in-car electronic systems.

Four Japanese executives entered guilty pleas in 2012 for their roles in antitrust violations related to the sale of auto parts by the Yazaki Corporation and the Denso Corporation, as previously reported by the New York Times.

In 2014, it was reported that the parts supplier would be paying $100 million.

 

 

Related Articles

Santander Bank to Pay $11.8M to Settle Loans, Insurance Claims

Four Automakers Settle Takata Airbag Lawsuit for $553 Million

N.Y. Body Shop to Pay $400K to Settle Wage Claims

You must login or register in order to post a comment.