Three car owners, acting on behalf of many others, have filed separate class actions against several major auto parts suppliers, accusing them of conspiracy and price fixing.
The lawsuits that were filed in US District Court in Detroit claiming that parts makers "engaged in a massive, over the past decade conspiracy to illegally fix and artificially increasing the price of grid systems" in the world.
Wiring of manufacturing systems is an activity of several billion dollars. Listed companies in pricing, increase car prices, damaging millions of consumers are: Delphi Automotive LLP, Lear Corp., Furukawa Electric Co., Leoni AG, Sumitomo Electric Industries Ltd, SY Systems Technologies GmbH, Yazaki Corporation and its North American subsidiary.
As lawsuits, authorities in the United States, the European Union and Japan have done studies on this and exploit the system for setting prices in the month of February 2010, the FBI and the police to raid some offices of the European suppliers'.
The most interesting story is that Tokyo-based Furukawa, who is also mentioned in the trial. Last month, the company has a federal solution, pleaded guilty to price fixing and paid a fine of 200 million U.S. dollars. Three of its leaders also pleaded guilty and received prison sentences of 12 to 18 months.
According to the Ministry of Justice, the conspiracy began in January 2000 and lasted until at least January 2010. Shari A. Poze, Assistant Attorney General in charge of the Antitrust Division, said: "As a result of this international price fixing and bid-rigging conspiracy, paid automakers uncompetitive prices and more for cars sold to U.S. consumers."
Honda, who came with the wiring systems Furukawa, says it was informed earlier this year by the authorities.
Delphi spokesman Lindsey Williams said the company was aware of the causes, but was not formally submitted any complaint.
Lear, on the other hand, has vehemently denied involvement in a global conspiracy, which states: "The company believes that the claims against it are totally unfounded and vigorously defend any litigation relating to claims".
Story References: Detnews
Tuesday, October 18, 2011
Harnesses And Large Manufacturers Face Class Action Ten Years Of Price Fixing
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