$6,000,000 in Direct Purchaser Settlements Reached with Shock Absorbers Manufacturers in Price Fixing Class Action Lawsuit

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The United States District Court for the Eastern District of Michigan, Southern Division

Mar 20, 2023, 08:00 ET

DETROIT, March 20, 2023 /PRNewswire/ -- Freed Kanner London & Millen LLC; Kohn, Swift & Graf, P.C.; Preti, Flaherty, Beliveau & Pachios, LLP; Spector Roseman & Kodroff, P.C.; and Cera LLP ("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 KYB and Hitachi Astemo Defendants (collectively "Settling Defendants"). The settlements resolve allegations against the Settling Defendants 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 United States, in violation of federal antitrust laws. (The proceeds of the two settlement funds are referred to collectively to as the "Shock Absorbers Settlement Fund").

The settlements affect those who purchased shock absorbers in the United States between January 1, 1995 and September 18, 2021 directly from any one of the following entities (or their controlled subsidiaries, affiliates, or joint ventures): KYB Corporation (f/k/a Kayaba Industry Co. Ltd.); KYB Americas Corporation; Hitachi, Ltd.; Hitachi Astemo, Ltd. (f/k/a Hitachi Automotive Systems, Ltd.), successor to Showa Corporation; and Hitachi Astemo Americas, Inc. (f/k/a Hitachi Automotive Systems Americas, Inc. and successor to American Showa, Inc.).

A hearing will be held on June 8, 2023, at 2:00 p.m., before the Honorable Sean F. Cox, United States District Judge, 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 (the "Notice") was mailed to potential Settlement Class members on or about March 9, 2023. 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.

URL: www.AutoPartsAntitrustLitigation.com/ShockAbsorbers

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