$2,719,274 in Settlements Reached with Valve Timing Control Devices Manufacturers in Price Fixing Class Action Lawsuit

DETROIT, April 6, 2020 /PRNewswire/ -- Spector Roseman & Kodroff, P.C.; Freed Kanner London & Millen LLC; Kohn, Swift & Graf, P.C.; Preti, Flaherty, Beliveau & Pachios, LLP; and Cohen Milstein Sellers & Toll PLLC ("Settlement Class Counsel") announce that the United States District Court for the Eastern District of Michigan Southern Division ("Court") has approved the following announcement of proposed class action settlements with the Mitsubishi Electric, HIAMS, DENSO, and Aisin Seiki Defendants. The lawsuit claimed that Defendants conspired to raise, fix, maintain, and stabilize prices, rig bids, and allocate the supply of Valve Timing Control Devices sold in the United States, in violation of federal antitrust laws.

The settlements affect those who purchased Valve Timing Control Devices in the United States between January 1, 2000 and March 12, 2018 directly from any of the following entities (or depending on the specific settlement agreement, their parents, subsidiaries, affiliates and joint ventures): Aisin Seiki Co., Ltd.; Aisin Automotive Casting, LLC; Aisin World Corp. of America; DENSO Corporation; DENSO International America, Inc.; DENSO Korea Corporation (f/k/a separately as DENSO International Korea Corporation and DENSO Korea Automotive Corporation); DENSO Products and Services Americas, Inc. (f/k/a DENSO Sales California, Inc.); DENSO Automotive Deutschland GmbH; Korea Delphi Automotive Systems Corp.; Hitachi, Ltd.; Hitachi Automotive Systems, Ltd.; Hitachi Automotive Systems Americas, Inc.; Mikuni Corporation; Mikuni American Corporation; Mitsubishi Electric Corporation; Mitsubishi Electric US Holdings, Inc.; and Mitsubishi Electric Automotive America, Inc.

A hearing will be held on June 17, 2020, at 2:30 p.m., before the Honorable Marianne O. Battani, United States District Judge, at the Theodore Levin United States Courthouse, 231 West Lafayette Boulevard, Detroit, MI 48226, Courtroom 250 (or such other courtroom as may be assigned for the hearing), for the purpose of determining: (1) whether the proposed settlements with the Mitsubishi Electric, HIAMS, DENSO, and Aisin Seiki Defendants totaling $2,719,274 should be approved by the Court as fair, reasonable and adequate; (2) whether the Court should approve the proposed plan of distribution of settlement proceeds to members of the settlement classes; and (3) whether the Court should approve Settlement Class Counsel's requests for an award of attorneys' fees, reimbursement of litigation costs and expenses, and an incentive payment to the Class Representative.

A Notice of Proposed Settlements (the "Notice") was mailed to potential Settlement Class members on or about March 25, 2020. The Notice describes the litigation and options available to Settlement Class members with respect to the Mitsubishi Electric, HIAMS, DENSO, and Aisin Seiki settlements in more detail. The Notice also explains what steps a Class Member must take to: (1) remain in the settlement classes and file a Claim Form to share in the settlement proceeds; (2) object to the settlements; or (3) request exclusion from the settlement classes.  The Notice and other important documents related to the settlements can be accessed at www.AutoPartsAntitrustLitigation.com/VTCD, or by calling 1-888-526-1644 or writing to Valve Timing Control Devices Direct Purchaser Antitrust Litigation, P.O. Box 3719, Portland, OR 97208-3719.  Those who believe they may be a member of any of the Mitsubishi Electric, HIAMS, DENSO, or Aisin Seiki settlement classes, are urged to obtain a copy of the Notice.

SOURCE United States District Court for the Eastern District of Michigan Southern Division

Related Links

http://www.AutoPartsAntitrustLitigation.com/VTCD