Mexican Media Brands
Daimler Sues SKF to Recover Price-Fixing Costs
Daimler AG is suing Swedish ball bearing supplier SKF Group to recover €59 million in overpayments, the supplier says.
#legal
Share
Daimler AG is suing Swedish ball bearing supplier SKF Group to recover €59 million in overpayments, the supplier says.
The lawsuit stems from a European Commission ruling in 2014 that SKF and five other bearing manufacturers conspired to manipulate prices for products they supplied to multiple carmakers between 2004 and 2011. The EC levied fines totaling €953 million ($1.1 billion) against five of the suppliers, including €315 million against SKF.
The company said last November it was being sued by BMW AG for compensation resulting from the EC decision. SKF insists the actions for which it was sanctioned “have not caused any damage to its business partners.”
RELATED CONTENT
-
Tesla Sued Over Fatal Crash of Car in Autopilot Mode
Tesla Inc. has been sued by the family of a California man whose Tesla Model X crossover vehicle crashed into a highway barrier last year while the car was operating in semi-autonomous Autopilot mode.
-
Report: Ghosn Kept List of Hidden Compensation
Japanese prosecutors have found a list apparently created by former Nissan Motor Co. Chairman Carlos Ghosn that charts compensation the company didn’t report but he expected to receive, The Nikkei says.
-
China Prepares to Sanction U.S. Carmaker for Price Fixing
China is preparing to fine an undisclosed U.S. carmaker for ordering its distributors to fix prices beginning in 2014, according to China Daily. Media reports say General Motors Co. is the target.