Yazaki to Pay $100 Million to Settle Civil Price-Fixing Lawsuits

Yazaki Corp. has agreed to pay $100 million to resolve civil claims related to its guilty plea two years ago in a federal probe into price fixing, Crain's Detroit Business reports.

Yazaki paid a $470 million criminal fine in 2012 after admitting it participated in a conspiracy to rig the price of wiring harnesses supplied to several carmakers. Four executives also pleaded guilty and were sentenced to serve between 15 months and two years in prison.

The new settlement involves civil claims from original parts purchasers, dealerships and consumers that were consolidated in U.S. District Court in Detroit. Payments will reimburse the groups for inflated prices on Yazaki-supplied wiring harnesses, instrument clusters and fuel tank sending units.

Crain's says attorneys also are finalizing a similar $5.4 million civil claims settlement in the same court involving safety components supplied by TRW Automotive Holdings Corp. and its German affiliate. Details about the parts involved in that pending agreement have not been released.