Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Dealerships seek approval of settlement in wire harness price fixing case, (Aug 25, 2015)
Law Firms Mentioned:Arnold & Porter LLP | Barrett Law Group, P.A. | Kerr, Russell and Weber, PLC
Organizations Mentioned:Arnold & Porter, LLP | Barrett Law Group, PA | Cuneo Gilbert & Laduca, LLP | Don Barrett, PA | Fujikura America LLC | Fujikura Ltd. | Kerr Russell & Weber, PLC | Larson King, LLP
By Greg Hammond, J.D.
Dealership plaintiffs are asking the federal district court in Detroit to preliminarily approve a settlement that would dispose of claims that Fujikura Ltd., a wire harness systems manufacturer, participated in a bid rigging and price fixing conspiracy (In re Automotive Parts Antitrust Litigation, Dkt. 12-md-02311).
Under the terms of the proposed settlement, Fujikura has agreed to pay $2.256 million, which will be used to pay costs of notice, attorney fees, expenses, and incentive awards for class representatives. Fujikura has additionally agreed to cooperate until final judgment or dismissal of all automotive wire harness systems claims by dealership plaintiffs.
The proposed settlement class includes all automobile dealers that, during the period January 1, 1999, through the execution date: (1) purchased new vehicles that included one or more automotive wire harness system(s) as a component part, which were manufactured or sold by a defendant, or any co-conspirator of the defendants; or (2) indirectly purchased one or more automotive wire harness system(s), which were manufactured or sold by a defendant; any current or former parent, subsidiary, or affiliate of a defendant; or any co-conspirator of the defendants.
In support of their motion, the dealerships claimed that the payment of $2.256 million is a meaningful settlement and is a significant achievement in this litigation. In addition, the settlement is valuable, according to the dealers, because it requires Fujikura to provide early and comprehensive cooperation in the form of attorney proffers, interviews with and depositions of witnesses, and the production of documents. Counsel also believes the settlement to be in the best interest of the proposed settlement class; the settlement is the result of extensive arm’s length and good faith negotiations; and the settlement agreement is fair, reasonable, and adequate.
Attorneys: Jonathan W. Cuneo (Cuneo Gilbert & Laduca, LLP), Don Barrett (Barrett Law Group, P.A.), and Shawn M. Raiter (Larson King, LLP) for settlement class. James L. Cooper (Arnold & Porter LLP) and Joanne G. Swanson (Kerr, Russell and Weber, PLC) for Fujikura Ltd. and Fujikura America LLC.
Companies: Fujikura Ltd.; Fujikura America LLC
News: Antitrust MichiganNews