Car safety equipment maker Autoliv has reportedly settled three antitrust lawsuits against the company after being accused of price-fixing.
The Switzerland-based firm is expected to shell out about $65 million to settle the class action cases filed after various antitrust investigations into Autoliv initiated by several jurisdictions around the globe. The company is suspected of manipulating car parts prices for more than 30 products including radiators, air conditioning systems and seat belts.
Autoliv is one of dozens of companies under crackdown by global regulators for a wide-spread auto parts price-fixing conspiracy. According to reports, the company paid $14.5 million in fines to the US Department of Justice in 2012.
The DOJ’s probe into the matter is its largest antitrust case to date.
Full content: Reuters
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