Tuesday, December 17, 2013
Labaton Sucharow Secures Aggregate Settlement of More Than $50 Million in the Auto Lights Antitrust Litigation
On December 17, 2013, Labaton Sucharow and co-counsel obtained a $25 million settlement with the remaining defendants, TYC Brother Industrial Co. Ltd. and Genera, in In re Aftermarket Automotive Lighting Products Antitrust Litigation.
The settlement would end a litigation filed by a class of direct purchasers of aftermarket replacement auto lights against manufacturers and distributors of such products, alleging that the defendants had participated in a worldwide price fixing scheme, lasting almost eight years. The class of direct purchasers was certified on July 27, 2011. After the civil litigation was filed, the US Department of Justice commenced an investigation of the industry, leading to numerous guilty pleas.
Previous to the settlement with TYC Brothers and Genera, Labaton Sucharow and co-counsel secured a $28.45 million settlement with the other defendants, Depo Auto Parts Industrial Co. Ltd., Maxzone Vehicle Lighting Corp, Sabry Lee (USA) Inc., Sabry Lee Ltd. and Eagle Eyes and its former U.S. distributor, E-Lite Automotive Inc. The aggregate settlement to date is over $50 million.
For more information, please visit the In re Aftermarket Automotive Lighting Products Antitrust Litigation case abstract.