Settlements Reached with Ceramic Substrates Manufacturers in Price Fixing Class Action Lawsuit

DETROIT, Feb. 17, 2020 /PRNewswire/ -- Kohn, Swift & Graf, P.C.; Preti, Flaherty, Beliveau & Pachios, LLP; Freed Kanner London & Millen LLC; 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 NGK, DENSO, and Corning Defendants. The lawsuit claimed that Defendants conspired to raise, fix, maintain, and stabilize prices, rig bids, and allocate the supply of Ceramic Substrates sold in the United States, in violation of federal antitrust laws.

The settlements affect those who purchased Ceramic Substrates in the United States between July 1, 1999 and October 29, 2018 directly from any of the following entities (or depending on the specific settlement agreement, their parents, subsidiaries, affiliates and joint ventures): NGK Insulators Ltd., NGK Automotive Ceramics USA, Inc., Corning International Kabushiki Kaisha, Corning Incorporated, DENSO Corporation, and DENSO International America, Inc.

A hearing will be held on June 17, 2020, at 1:00 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 NGK, DENSO, and Corning Defendants totaling $17,300,000 should be approved by the Court as fair, reasonable and adequate; (2) whether the Court should approve the proposed plan of distribution of the 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 February 7, 2020. The Notice describes the litigation and options available to Settlement Class members with respect to the NGK, DENSO, and Corning 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/CeramicSubstrates, or by calling 1-877-734-5508 or writing to Ceramic Substrates Direct Purchaser Antitrust Litigation, P.O. Box 4178, Portland, OR 97208-4178.  Those who believe they may be a member of any of the NGK, DENSO, or Corning settlement classes, are urged to obtain a copy of the Notice.

URL: www.AutoPartsAntitrustLitigation.com/CeramicSubstrates 

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