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Goodyear, other tire makers slam 'far fetched' price-fixing lawsuits
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Goodyear, other tire makers slam 'far fetched' price-fixing lawsuits
Sep 29, 2024 9:01 AM

Sept 23 (Reuters) - Goodyear, Bridgestone ( BRDCF ) and four other

tire manufacturers have asked a U.S. judge to dismiss a trio of

class action lawsuits accusing them of conspiring to overcharge

consumers and businesses in the multibillion-dollar market for

replacement tires.

The companies, also including Continental, Michelin, Nokian and

Pirelli, said in an Ohio court filing on Friday that the

lawsuits failed to provide any evidence that they agreed to fix

tire prices for passenger cars, trucks and other vehicles.

The antitrust cases from consumers, automobile dealerships

and other purchasers were assigned in June to the federal court

in Akron, Ohio.

The plaintiffs' claims were first lodged in February on the

heels of a European Commission antitrust probe of some tire

makers in Europe. The commission is the antitrust enforcer in

the 27-country European Union.

Lawyers for the plaintiffs and spokespeople for Continental,

Michelin, Nokian, Goodyear, Pirelli and Bridgestone ( BRDCF ) either had

no immediate comment or did not immediately respond to requests

for one.

The lawsuits estimated sales last year for replacement tires

reached $57 billion in the United States.

The plaintiffs contend the alleged conspiracy drove up the

average price of replacement tires in the United States by 21.4%

between 2021 and 2023. The lawsuits seek class-action status for

buyers from early 2020 to the present.

The tire makers in their joint court filing called the

claims "far-fetched" and said the plaintiffs had attempted to

"create a conspiracy out of thin air" with no evidence

substantiating the lawsuits. They said their pricing decisions

reflected "rational and competitive behavior in a concentrated

market."

The companies said the existence of the European Commission

probe was "insufficient, as a matter of law, to infer an

unlawful agreement under U.S. federal and state law."

Chief Judge Sara Lioi in the Northern District of Ohio was

assigned in June to hear the cases.

The case is In Re: Passenger Vehicle Replacement Tires

Antitrust Litigation, U.S. District Court, Northern District of

Ohio, No. 5:24-md-03107-SL.

Read more:

EU antitrust regulators raid consultancy in tyre cartel

investigation

Top tire makers are sued in US over alleged price fixing

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