Auto Parts Price-Fixing and Bid-Rigging Conspiracy Investigation
Following an investigation revealing admitted criminal anti-competitive conduct, automobile owners have discovered that eight auto-part suppliers conspired to dominate the global automotive wire harness systems market. Their conspiracy resulted in new car prices being inflated for over a decade.
More Information on the Auto Parts Price-Fixing Scheme
Wire harness systems go in all new cars on the road today, controlling everything from transmissions to head lights. The U.S. Department of Justice (DOJ) revealed a widespread, decade long price-fixing conspiracy by manufacturers of these systems following its prosecution of three Japanese executives from Furukawa Electric Company of Tokyo. Each pled guilty to criminal conspiracy and will serve up to 18 months of prison time in the United States. The company also agreed to pay a $200 million fine and to cooperate with U.S. and European authorities who continue to investigate this wide-ranging conspiracy.
According to the DOJ, many of the automobile manufacturers could have been overcharged by hundreds of millions of dollars for these parts, who likely passed that inflated cost on to U.S. car buyers.
Cars That May Have Been Affected:
The scope of just how many cars were affected is still being assessed. The following are some of the biggest clients of the eight auto-part suppliers being investigated:
|If you purchased or leased a new car from January of 2000 to January of 2010, you may have paid more for your car because of the artificially inflated cost of parts. |
If you would like to talk with a lawyer about your potential claim, please call 1.800.887.8029 or submit a free case review form. Zimmerman Reed is experienced in handling antitrust cases and we welcome any questions you may have.