February 22, 2025

Otoliv or $65 million due to monopoly

The Swedish supplier Otoliv announced that in order to resolve the three lawsuits faced by component price manipulation, the company has agreed to pay compensation to the plaintiff for a total of US$65 million.

In June 2012, Otolif was fined by US courts for US$14.5 million for allegedly operating the seat belt, airbags, and steering wheel in the US market. In addition, the manager of Akoya Tokayov named Takayoshi Matsunaga was also fined $20,000 in 2013 and sentenced to 1 year and 1 day in prison.

After being punished by a US court, Autolif was sued by direct purchasers of related parts and components, distributors, and individual consumers. A few days ago, Autoli agreed to reach a settlement with the above-mentioned plaintiffs. In total, they will pay 65 million U.S. dollars in compensation, of which 40 million U.S. dollars will be awarded to companies and 6 million U.S. dollars and 19 million dollars will be paid to individual consumers.

The above cases are the latest results of the US Department of Justice’s anti-monopoly investigation of the automotive industry. To date, 27 parts suppliers including Autolif have pleaded guilty and another 35 managers have been charged. These companies and individuals have totaled The amount of punishment has been more than 2.3 billion US dollars.

Disc Top Cap

Disc Top Cap,Disc Top Cap Bottle,Disc Top Closures,Plastic Disc Caps

Jiangyin First Beauty Packing Industry Co, ltd , https://www.firstbeautypacking.com