$84M Settlement Reached in Mitsubishi Antitrust Class Action Lawsuit

Santa Clara, CA: A US$ 84,512,195 settlement has been reached between Mitsubishi Electric Corporation and its subsidiaries, Mitsubishi Electric US Holdings, Inc. and Mitsubishi Electric Automotive America, Inc., and indirect purchaser plaintiffs in a class action lawsuit alleging price-fixing of certain automotive parts.

The suit was filed in February 2013 against Mitsubishi Electric and its subsidiaries claiming indirect purchasers in the US had suffered damages as a result of an alleged antitrust violation concerning the pricing of certain automotive parts. Mitsubishi Electric and its subsidiaries decided to enter into the settlement agreement, considering the expense of a long period of litigation.

The settlement agreement is subject to court approval.

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Published on Apr-18-16