A PYMNTS Company

EU/US: Class action launched against car co after 2011 antitrust raids

By  |  May 12, 2013

A class action has been launched against automotive developer Autoliv, headquartered in Sweden, in the wake of raids of company offices by the European Commission. The regulator raided Autoliv’s German subsidiary in 2011, four months after the US Department of Justice initiated its own investigation into the company for allegations of anticompetitive conduct. According to court documents, Autoliv stock prices plummeted in response to news the company had spent $4 million on legal fees for the case as well as a conference in Germany where it was stated proper predictions about the company’s earnings could no longer be accurately predicted due to the antitrust case. Autoliv pleaded guilty to the DOJ in 2012 to allegations of fixing prices of car parts, eventually paying a $14.5 million fine. A notice has been filed to the public that buyers of Autoliv stock during the time of the investigations now have the option to join the class action.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Reuters

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.