Americans who purchased a new car or truck since 1995 could be eligible for compensation. This conclusion was arrived at in the wake of a major criminal antitrust investigation. Tens of auto suppliers have been accused of bid rigging and price fixing.
So far, the consumer settlement has reached $1 billion. What is more, you could be eligible if you leased a vehicle or bought specific replacement parts in the past 23 years.
So far no deadline for filing claims has been set. The deadline to opt out passed. You can check to see if you can assert a claim at www.autopartsclass.com. On this site, there is a drop-down menu to put the make, year, and model of the vehicle you bought or leased.
The U.S. Department of Justice launched the investigation in 2010 following a high-profile raid of the offices of three wire-harness suppliers by the FBI. Eventually, the investigation widened to encompass more suppliers as the web of antitrust violations was untangled.
Earlier in this decade, several executives were sentenced to prison. The subsequent civil case incorporates over 160 defendants at present.
The Department of Justice has alleged the defendants set inflated prices for several dozen parts, conspiring on a model-by-model basis. These parts included fuel-sending units, power-window motors, starters, switches, hoses, spark plugs, tubes, seals, bearings, lamps, and more.