Tecumseh agrees to pay $7m in US class action
TECUMSEH has agreed to to pay $7m and up to $250,000 in costs as settlement in the US class action launched against a number of refrigeration compressor manufacturers allegedly involved in a price fixing conspiracy.
The class members in the case include customers who directly purchased products from Tecumseh in the US from January 2004 to December 2008. The settlement awaits court approval.
Antitrust claims in the US against other compressor manufacturers are ongoing.
The offices of a number of refrigeration compressor manufacturers' offices across Europe, the US and Brazil were raided by anti-trust authorities in February 2009. In the operation codenamed zero degrees, 60 federal agents in Sao Paulo searched Whirlpool offices and seized computer equipment. Unannounced raids were also carried out at the offices of Whirlpool and Tecumseh in Brazil and the US, and Danfoss facilities in Denmark, Germany and the US.
In October last year Embraco agreed to pay $56.5m to settle its compressor cartel allegations in Brazil.