Settlements Reached with Automotive Hoses Manufacturers in Price Fixing Class Action Lawsuit

DETROIT, Nov. 16, 2020 /PRNewswire/ -- Freed Kanner London & Millen LLC; Kohn, Swift & Graf, P.C.; Spector Roseman & Kodroff, P.C.; and Preti, Flaherty, Beliveau & Pachios, LLP ("Co-Lead 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 Sumitomo Riko and Toyoda Gosei Defendants totaling approximately $8.45 million, and the proposed distribution of the proceeds of those settlements.

The lawsuit claims that Defendants conspired to suppress and eliminate competition for Automotive Hoses by agreeing to raise, fix, maintain, and stabilize prices, rig bids, and allocate markets and customers for Automotive Hoses sold in the United States, in violation of federal antitrust laws.

The settlements affect those who purchased Automotive Hoses in the United States from February 1, 2004 through November 1, 2018 directly from any of the following entities (or their subsidiaries or affiliates): Sumitomo Riko Company Limited; Sumitomo Riko America, Inc.; SumiRiko Tennessee, Inc.; Toyoda Gosei Co., Ltd.; Toyoda Gosei North America Corp.; and TG Missouri Corp.

A hearing will be held on February 11, 2021, at 2:00 p.m., before the Honorable Sean F. Cox, United States District Judge, at the Theodore Levin United States Courthouse, 231 West Lafayette Boulevard, Detroit, MI 48226, Courtroom 817 (or such other courtroom as may be assigned for the hearing, or if the Court believes that it is appropriate, remotely by telephone or other electronic means), for the purpose of determining whether to approve: (1) the proposed settlements with the Sumitomo Riko and Toyoda Gosei Defendants; (2) the proposed plan of distribution of the settlement funds to members of the settlement classes; and (3) Settlement Class Counsel's requests for an award of attorneys' fees, reimbursement of litigation costs and expenses, and a service award to the Class Representative.

A Notice of Proposed Settlements (the "Notice") was mailed to potential Settlement Class members on or about November 6, 2020. The Notice describes in more detail the litigation and options available to Sumitomo Riko and Toyoda Gosei Settlement Class members with respect to the Sumitomo Riko and Toyoda Gosei settlements. The Notice and other important documents related to the settlements can be accessed at www.AutoPartsAntitrustLitigation.com/AutomotiveHoses, or by calling 1-877-432-3814 or writing to Automotive Hoses Direct Purchaser Antitrust Litigation, P.O. Box 6659, Portland, OR 97228-6659.  Those who believe they may be a member of either or both of the Sumitomo Riko or Toyoda Gosei Settlement Classes, are urged to obtain a copy of the Notice.

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

URL: www.AutoPartsAntitrustLitigation.com/AutomotiveHoses   

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