Last chance for Canadians to get part of $78M car settlement
The deadline is nearing for Canadians to get a chunk of a nationwide settlement relating to the alleged price fixing of certain automotive parts.
Courts in Toronto, Vancouver, and Quebec City approved the settlement totalling approximately $78 million in 23 class actions alleging “unlawful conspiracies to fix prices of auto parts for installation in new vehicles,” says the law firms involved in the case.
While the defendants have not admitted any wrongdoing or liability, there have been extensive criminal investigations around the globe surrounding price-fixed auto parts, according to a statement from the legal representatives.
“Price-fixing conspiracies are prohibited by the Competition Act. They are harmful to the Canadian marketplace, causing businesses and consumers to pay too much for goods and services,” said David Jones, a partner at Camp Fiorante Matthews Mogerman LLP in Vancouver. “The settlements seek to redress that harm.”
Several affected car brands range from Toyota to Aston Martin.
The firms stress that no wrongdoing is alleged against these brands.
“They are not defendants in the class actions. The class actions were brought against the parts manufacturers who allegedly price-fixed those products,” reads a news release.
You have only a couple of days left to claim that cash — according to the class action’s site, emails were sent out on January 15 alerting class members that the deadline to claim the settlement has been extended to Monday, January 29.
Who’s eligible for the settlement payment?
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According to the settlement, drivers who bought or leased a new car sold under the following brands between July 1, 1998, and September 30, 2016, are eligible to receive compensation:
- Aston Martin
- BMW/Mini Cooper
- Chrysler/Dodge/Fiat/Jeep/Ram
- Ford/Lincoln/Mercury
- General Motors (Buick/Cadillac/Chevrolet/Daewoo/GMC/ Hummer/Isuzu/Oldsmobile/Pontiac/Saab/Saturn)
- Honda/Acura
- Jaguar/Land Rover
- Mazda
- Nissan/Infiniti
- Subaru
- Toyota/Lexus
- Volkswagen/Audi/Porsche/Volvo (the “Automakers”)
This includes a new passenger car, sport utility vehicle, van, and/or light truck (up to 10,000 lb) from any of the automakers above.
How much money you receive is proportional to the value of your claim relative to the value of all approved claims.
The settlement anticipates all claims will receive a minimum payment of $25 per claim, not per vehicle.
It also notes that the class action settlement is not a recall of any of the car brands listed above.
“To date, more than $179 million has been recovered for the benefit of Canadians in the auto parts class actions,” says Jean Marc Leclerc, a Sotos LLP partner in Toronto. “This is the second round of distribution and there will be at least one more distribution.”
If you’re eligible, you can claim your portion of the settlement here.
For more information about the settlements, the distribution of settlement funds, and the claims process, click here or call 1-866-474-4331.
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