Proposed Distribution of Settlement Fund From Settlement with Small Bearings Manufacturer in Direct Purchaser Price Fixing Class Action Lawsuit

Jun 27, 2023

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17 Jul, 2023, 08:00 ET

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DETROIT, July 17, 2023 /PRNewswire/ -- Freed Kanner London & Millen LLC; Kohn, Swift & Graf, P.C.; Preti, Flaherty, Beliveau & Pachios, LLP; Spector Roseman & Kodroff, P.C.; Cera LLP; and Cohen Milstein Sellers & Toll PLLC ("Settlement Class Counsel") announce that the United States District Court for the Eastern District of Michigan Southern Division ("Court") has approved the following announcement concerning a proposed distribution plan for the proceeds of a $9.75 million settlement with the Minebea Defendants ("Minebea Settlement Fund") in a price fixing class action lawsuit relating to small bearings. The settlement resolved allegations against the Minebea Defendants that they conspired to suppress and eliminate competition for Small Bearings by agreeing to raise, fix, maintain, and/or stabilize prices, rig bids, and allocate markets and customers for Small Bearings sold in the United States, in violation of federal antitrust laws. Small Bearings refers to bearings whose outer diameter is 30 millimeters or less.

The settlement affects those who purchased small bearings in the United States between June 1, 2003 and February 15, 2017 directly from MINEBEA MITSUMI Inc., NMB (USA), Inc., NMB Technologies Corporation, NSK Ltd., NSK Americas, Inc., or NSK Corporation.

A hearing will be held on October 12, 2023, at 2:00 p.m., before the Honorable Sean F. Cox, United States District Judge, for the purpose of determining whether to approve: (1) the proposed plan of distribution of the Minebea Settlement Fund; (2) Settlement Class Counsel's request for an award from the Minebea settlement proceeds of attorneys' fees and litigation costs and expenses; and (3) a service award for the Class Representative.

A Notice of Hearing and Claim Form (the "Notice") was mailed to potential Settlement Class members on or about July 6, 2023. The Notice describes in more detail the litigation and options available to Settlement Class members with respect to the proposed plan of distribution of the Minebea Settlement Fund, and Settlement Class Counsel's requests for attorneys' fees, litigation costs and expenses, and a service award to the Class Representative. The Notice and other important documents related to the settlement can be accessed at www.AutoPartsAntitrustLitigation.com/SmallBearings, or by calling 1-888-396-9607 or writing to Small Bearings Direct Purchaser Antitrust Litigation, P.O. Box 3560, Portland, OR 97208-3560. Those who believe they may be a member of the Minebea Settlement Class are urged to obtain a copy of the Notice.

URL: www.AutopartsAntitrustLitigation.com/SmallBearings

SOURCE The United States District Court for the Eastern District of Michigan, Southern Division