@Nishikawa Rubber agrees to settle class-action lawsuit for price fixing (26/09/2560)

26 Sep 2017
35 times

Tokyo, Japan - Automotive rubber parts manufacturer Nishikawa Rubber Co. Ltd. announced it had reached an agreement in principle for a settlement with plaintiffs in a class-action civil lawsuit. The lawsuit, filed in the U.S. District Court for the Eastern District of Michigan, involves the company’s sales of automotive sealing components. Nishikawa Rubber has agreed to pay a settlement of approximately $49.29 million, which it plans to report as an extraordinary loss in the second quarter of the fiscal year ending March 2018. A year ago, Nishikawa agreed to plead guilty and pay a $130 million criminal fine for its role in a conspiracy to fix the prices of and rig the bids for automotive body sealing products installed in cars sold to U.S. consumers. Source: rubber world (25/09/2017)

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