Settlements of $6M reached with shock absorber manufacturers in class action lawsuit

Among the allegations are conspiracies to suppress and eliminate competition by agreeing to raise, fix, maintain, and/or stabilize prices and rig bids

Detroit—The United States District Court for the Eastern District of Michigan Southern Division has approved an announcement of proposed class action settlements with KYB and Hitachi Astemo. The settlements resolve allegations against the companies that they conspired to suppress and eliminate competition for shock absorbers by agreeing to raise, fix, maintain, and/or stabilize prices, rig bids, and allocate markets and customers for shock absorbers sold in the U.S., in violation of federal antitrust laws.

The settlements affect those who purchased shock absorbers in the U.S. between Jan. 1, 1995, and Sept. 18, 2021, directly from any one of the following entities (or their controlled subsidiaries, affiliates, or joint ventures): KYB Corporation; KYB Americas Corporation; Hitachi, Ltd.; Hitachi Astemo, Ltd., successor to Showa Corporation; and Hitachi Astemo Americas, Inc.

A hearing will be held on June 8, at 2 p.m., for the purpose of determining whether to approve: (1) the proposed settlements with the KYB and Hitachi Astemo Defendants totaling $6,000,000; (2) Settlement Class Counsel’s request for an award from the KYB and Hitachi Astemo settlement proceeds of attorneys’ fees and litigation costs and expenses; (3) the proposed plan of distribution of the Shock Absorbers Settlement Fund; and (4) service awards for the Class Representatives.

A Notice of Proposed Settlements and Claim Form was mailed to potential Settlement Class members on or about March 9. The Notice describes the litigation and options available to Settlement Class members with respect to the KYB and Hitachi Astemo settlements in more detail. The Notice and other important documents related to the settlements can be accessed at www.AutoPartsAntitrustLitigation.com/ShockAbsorbers, or by calling 1-877-393-1069 or writing to Shock Absorbers Direct Purchaser Antitrust Litigation, P.O. Box 3170, Portland, OR 97208-3170. Those who believe they may be a member of either or both of the KYB and Hitachi Astemo settlement classes, are urged to obtain a copy of the Notice.