Important! There is a proposed settlement with only one defendant. This class action is still active.
A proposed settlement agreement has been reached with one of the defendants in this proposed class action, Musashi Bockenau GMBH & Co.
July 30, 2024
Opt-Out Form Deadline
Written Objection Deadline
September 6, 2024
Settlement Approval Hearing
A class action is a lawsuit filed by one person on behalf of a group of people who have the same legal claims.
This class action alleged that certain manufacturers of forged steel products conspired to fix the prices of these products, which then raised the prices of the vehicles containing the forged steel products manufactured, marketed, distributed and/or sold by the defendants, and the replacement parts for such vehicles.
The court in British Columbia has certified the proceeding as a class proceeding against Musashi for settlement purposes only. The settlement class for the claims against Musashi includes anyone in Canada who bought or leased a vehicle, or who purchased vehicle replacement parts, that contained forged steel products manufactured, marketed, distributed and/or sold by the defendants including Musashi between 2002 and October 4, 2023.
Any product or part made of metal that is hammered and forced into a certain shape. Forged steel products produced by Musashi are found in vehicles and typical forged steel car parts include engine, transmission, axle, and suspension parts, among others.
Settlement has been reached with Musashi. It is the first defendant to enter into an agreement for this class action.
A settlement is when a defendant agrees to pay money to the members of the class action in exchange for being released from the case.
Musashi has agreed to settle the claims made against it in exchange for a full release of the claims against it and their related entities relating to the alleged price fixing of forged steel products. Musashi agreed to pay CDN $595,000 for the benefit of the settlement class. Musashi also agreed to provide cooperation to the Plaintiff in pursuing the Forged Steel Products Proceeding against the remaining defendants. The settlement is a resolution of a contested claim and Musashi does not admit any liability, wrongdoing or fault.
Class Counsel will request approval from the Court to have the settlement amount held in trust for future benefit of the Class.
The Court must approve the settlement before it is final. Final Approval Hearing to consider approval of the settlement and of the lawyer’s fees will be held at September 6, 2024, at 9:00 AM Pacific Time at the BC Supreme Court at 800 Smithe Street, Vancouver, BC.
If you are a class member and you do nothing, you will be bound by the terms of the settlement if it is approved. This means that you will not be able to bring your own lawsuit against Musashi for the actions that are alleged in this case. You will become part of the settlement class and share in any distribution of settlement funds (if any).
Opt-Out – If you do NOT want to be bound by the proposed settlement between Musashi and the Class, you may opt out before July 30, 2024, by sending a completed Opt-Out to Class Counsel.
The Opt-out Form is available for download on this webpage.
Objections – If you object to the terms of the settlement, you have the right to communicate this objection before July 30, 2024, in writing to Class Counsel.
