Parts Supplier Settles Price-Fixing Claims for more than $250M
Posted on Jul 15, 2016 in Industry News | Comments Off on Parts Supplier Settles Price-Fixing Claims for more than $250M
Auto parts supplier Denso Corp. has agreed to pay more than $250 million to settle price-fixing claims in a multi-district litigation. According to settlement documents filed in the District Court for the Eastern District of Michigan, Denso will pay approximately $193.8 million to car buyers and $61.2 million to auto dealers. The settlement ends a lengthy Department of Justice investigation that has resulted in several companies paying more than $2 billion in fines. Danso has issued a statement emphasizing it has taken various preventive measures to ensure compliance with antitrust laws, including enacting stricter compliance rules and strengthening compliance monitoring.
