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KYB Shock Absorber Settlement - $3.5 Million Ends The Antitrust Lawsuit Filed For Price Fixing

Class Action Settlements

KYB Shock Absorber Settlement – $3.5 Million Ends The Antitrust Lawsuit Filed For Price Fixing

Japanese Auto Parts Maker KYB Corp. To Pay $3.5 Million As Settlement In Antitrust Price-Fixing Lawsuit 

Tokyo-based car parts manufacturer KYB Corp. has agreed to pay $3.5 million as a settlement in a case with American consumers contending that it has engaged in antitrust price-fixing to establish a shock absorber monopoly.

What Is The KYB Price Fixing Shock Absorber Class Action

The KYB Shock Absorber Settlement is a proposed deal between KYB Corp. and complainants that have launched a legal challenge against the company. 

It is argued that KYB has practiced price fixing in its shock absorber products to control the market for them in the country. The class action added that KYB conspired to fix, maintain, or raise the prices for shock absorbers it offers – a flagrant violation of different federal-level antitrust statutes. 

The case stemmed from a cooperative probe between different officials from the United States (U.S.), Japan, and European countries in a bid to potentially uncover the purported illegal price-fixing and antitrust practices in the multinational auto parts industry. 

Findings from the said investigation have caused the filing of several lawsuits, with some leading to multi-million dollar settlements. KYB Corp. is just one of the companies that were hit by the official inquiry. 

Initially Available Settlement Details 

Initial details for this particular KYB Shock Absorber Settlement case are still very few as of writing, yet Consider The Consumer has listed below key information you should know:

  • As of writing, the KYB Shock Absorber Settlement is awaiting preliminary court approval;
  • It is believed that U.S.-based customers that have bought a shock absorber from KYB Corp. between the dates of the 1st of January 1995 and the 11th of October 2016 will benefit from the settlement fund.
  • KYB has also initially pledged to help other complainants in dealing with non-settling defendants to the case; and
  • The company is still not safe from other cases lodged against it by complainants who have bought its shock absorbers indirectly via a third-party agent.

This is not the first settlement agreement KYB Corp. has agreed to enter into as a result of its alleged anti-competition practices. The company paid more than a billion dollars in a 2019 settlement involving allegations that it took part in a massive conspiracy to jack up prices of different car parts sold in the U.S.

About The Company

Established in 1948 in Japan, KYB Corp. is a car parts making company in Tokyo. The company manufactures and sells different kinds of automotive components ranging from motors and cylinders to shock absorbers. Masao Usui heads KYB Corp. as its CEO and President.  

Editor’s Note on KYB Shock Absorber Settlement: 

This report provides key details surrounding the initial information in the settlement deal between KYB Corp. and the plaintiffs in the antitrust lawsuit against it.    

Case Name(s) & No.: In Re: Automotive Parts Antitrust Litigations, MDL and In Re: Shock Absorbers, specifically for Direct Purchaser Actions; Case No.: 2:12-md-02311 and 2:15-cv-03301 

Jurisdiction: Both cases are being heard in the United States (U.S.) District Court for the Eastern District of Michigan  

Allegation(s): KYB Corp. has engaged in different illegal anticompetitive practices to maintain its hold in the U.S. automotive parts market.    

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