Mitsubishi Electric Reaches Settlement with Indirect Purchasers in Automotive Parts Suit

TOKYO--()--Mitsubishi Electric Corporation and its subsidiaries, Mitsubishi Electric US Holdings, Inc. and Mitsubishi Electric Automotive America, Inc., entered into a settlement agreement with indirect purchaser plaintiffs in a class action lawsuit concerning certain automotive parts in the United States District Court for the Eastern District of Michigan. The settlement was set at US$ 84,512,195.

The settlement agreement is subject to approval by the court.

In February 2013, a class action suit was brought against Mitsubishi Electric and the subsidiaries listed above claiming damages indirect purchasers in the U.S. had suffered from an alleged antitrust violation concerning the pricing of certain automotive parts. Mitsubishi Electric and its subsidiaries decided to enter into the settlement agreement, considering the expense of a long period of litigation.

Contacts

Mitsubishi Electric Corporation
Customer Inquiries
Planning & Administration Department
Automotive Equipment Group
www.MitsubishiElectric.com/ssl/contact/bu/automotive/form.html
www.MitsubishiElectric.com/bu/automotive/index.html
or
Media Inquiries
Takeyoshi Komatsu, +81-3-3218-2346
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/

Contacts

Mitsubishi Electric Corporation
Customer Inquiries
Planning & Administration Department
Automotive Equipment Group
www.MitsubishiElectric.com/ssl/contact/bu/automotive/form.html
www.MitsubishiElectric.com/bu/automotive/index.html
or
Media Inquiries
Takeyoshi Komatsu, +81-3-3218-2346
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/