Hearing Date Announced Concerning Settlement with Bearings Manufacturer in Price Fixing Class Action Lawsuit

DETROIT, June 8, 2020 /PRNewswire/ -- Freed Kanner London & Millen LLC; Kohn, Swift & Graf, P.C.; Preti, Flaherty, Beliveau & Pachios, LLP; Spector Roseman & Kodroff, P.C.; Cera 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 concerning a class action settlement with the Schaeffler Defendants in a lawsuit alleging that Defendants conspired to raise, fix, maintain, and stabilize prices, rig bids, and allocate markets and customers for Bearings sold in the United States in violation of federal antitrust laws.

The settlement affects those who purchased Bearings in the United States from January 1, 2000 through March 21, 2017 directly from any of the following entities: Schaeffler Group USA Inc.; Schaeffler Technologies GmbH & Co. KG (now Schaeffler Technologies AG & Co. KG); FAG Kugelfischer GmbH; JTEKT Corporation; Koyo Corporation of U.S.A.; Koyo France SA.; Koyo Deutschland GmbH; Nachi-Fujikoshi Corp.; Nachi America Inc.; Nachi Technology, Inc.; Nachi Europe GmbH; NSK Ltd.; NSK Americas, Inc.; NSK Europe Ltd.; NSK Corporation; AB SKF; SKF GmbH; SKF USA Inc.; NTN Corporation; NTN USA Corporation; NTN Walzlager GmbH; and NTN-SNR Roulements SA.

A hearing will be held on July 23, 2020, at 11:00 a.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), to consider whether the Court should approve the proposed plan of distribution of the Schaeffler Settlement Fund and Settlement Class Counsel's requests for reimbursement of litigation expenses and service awards to the Class Representatives.

A Notice of Hearing and Claim Form (the "Notice") was mailed to potential Schaeffler Settlement Class members on or about May 26, 2020. The Notice describes the options available to settlement class members with respect to the Schaeffler settlement in more detail. The Notice also explains what steps a Class Member must take to: (1) file a Claim Form to share in the settlement proceeds; or (2) object to the proposed plan of distribution of the Settlement Fund or Settlement Class Counsel's requests for reimbursement of litigation expenses, or service awards to the Class Representatives.  The Notice and other important documents related to the settlements can be accessed at www.AutoPartsAntitrustLitigation.com/Bearings, or by calling 1-888-737-9578 or writing to Bearings Direct Purchaser Antitrust Litigation, P.O. Box 4230, Portland, OR 97208-4230. Those who believe they may be a member of the Schaeffler settlement class, are urged to obtain a copy of the Notice if they have not received one in the mail.

URL: www.AutoPartsAntitrustLitigation.com/Bearings  

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

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http://www.AutoPartsAntitrustLitigation.com/Bearings