A class action complaint has been filed alleging that the defendants, including Delphi, are engaging in a massive, decade-long conspiracy to unlawfully fix and artificially raise the prices of Automotive Wire Harness Systems, which are automotive electrical distribution systems used to direct and control electronic components, wiring and circuit boards in an automotive vehicle.
The plaintiffs contend that the defendants’ conspiracy successfully targeted the long-struggling United States automotive industry, raising prices for car manufacturers and consumers alike. The plaintiffs say that competition authorities in the United States, the European Union and Japan have been investigating a conspiracy in the market for Automotive Wire Harness Systems since at least February 2010.
Among the defendants is Furukawa Electric who was cited in an agreement announced two weeks ago in which three Furukawa Electric executives agreed to plead guilty and pay a $200 million fine for the company’s participation in the scheme, and three of its executives also agreed to serve prison terms ranging from a year to 18 months in U.S. prison for their role.
Categories: Class Actions of Interest