Auto Parts Class Action Settlement Update
Time is running out for individuals and businesses potentially affected by the massive Auto Parts Antitrust Litigation. A series of class action settlements totaling over $1.2 billion are nearing their claim deadlines.
This article provides a critical update on these settlements, outlining the deadlines, eligibility requirements, and steps necessary to file a claim and potentially receive compensation for overcharges on various auto parts.
Settlement Overview
Multiple class action lawsuits were consolidated under the umbrella of the Auto Parts Antitrust Litigation. These lawsuits allege that numerous manufacturers conspired to fix prices for a wide range of auto parts sold in the United States.
The settlements resolve claims against specific defendant groups. Participation is contingent on meeting the specific eligibility criteria for each settlement.
Key Settlement Groups and Deadlines
Several settlements have already passed their claim deadlines. However, crucial deadlines remain for others.
Wire Harness Systems Settlement: The deadline to submit a claim for the Wire Harness Systems Settlement is April 15, 2024. This settlement involves allegations of price-fixing related to wire harnesses used in automobiles.
Those who purchased wire harnesses or vehicles containing them may be eligible. This settlement has garnered significant attention due to the pervasive nature of wire harnesses in vehicle manufacturing.
Electric Powered Steering Systems (EPS) Settlement: The deadline to file a claim for the EPS Settlement is also April 15, 2024. This concerns allegations of price-fixing involving electric powered steering systems.
Purchasers of EPS or vehicles equipped with EPS may qualify. This is a separate settlement from the Wire Harness Systems, requiring separate claims if eligible for both.
Bearing Settlement: The deadline to file a claim for the Bearing Settlement is May 1, 2024. This involves allegations of price-fixing related to various types of bearings used in vehicles.
Businesses and individuals who purchased bearings directly or indirectly may be eligible. This settlement covers a broad range of bearing types used in numerous automotive applications.
It is imperative to verify specific deadlines for each settlement group. Missing the deadline means forfeiting the right to receive compensation from that particular settlement.
Eligibility Requirements
Eligibility varies based on the specific auto part and settlement group. Generally, those who directly or indirectly purchased new motor vehicles or replacement parts containing the affected auto parts during the relevant period are eligible.
Indirect purchasers (those who bought vehicles or replacement parts from retailers) are eligible in many states. Direct purchasers (those who bought directly from the manufacturers) may have different requirements.
Detailed eligibility criteria are available on the official settlement websites. Review the specific requirements for each settlement you believe you are eligible for.
How to File a Claim
Claims must be filed online or via mail using the official claim forms. The claim forms and instructions can be found on the respective settlement websites.
You will need to provide documentation to support your claim. This may include invoices, purchase orders, or other records showing the purchase of affected auto parts or vehicles.
Accurate and complete information is crucial for a successful claim. Ensure all required fields are filled out correctly and that supporting documentation is clear and legible.
Resources and Information
The official settlement websites are the primary source of information. These websites contain settlement agreements, claim forms, FAQs, and contact information for the settlement administrators.
The websites are:
- Wire Harness Systems and EPS Settlements: www.AutoPartsAntitrustSettlement.com
- Bearing Settlement: www.AutomotivePartsSettlement.com
These websites are critical resources for determining eligibility and filing claims. Thoroughly review the information provided before submitting a claim.
Next Steps and Considerations
Anyone who believes they may be eligible for these settlements should act immediately. The deadlines are rapidly approaching.
Consult with legal counsel if you have complex claims or questions. An attorney can provide guidance on your specific circumstances and help ensure your claim is properly filed.
The Auto Parts Antitrust Litigation represents a significant recovery for consumers and businesses affected by price-fixing. Do not miss the opportunity to potentially receive compensation.
