Fiat Settles £80M Ball Bearing Price-Fixing Cartel Claim

By Richard Crump (January 6, 2022, 4:22 PM GMT) -- Fiat Chrysler Automobiles has settled its £80 million ($108 million) cartel claim against a ball bearing manufacturer accused of price-fixing, two weeks before a 10-week trial was due to begin at a London competition court.

Judge Richard Jacobs, chairman of the Competition Appeal Tribunal, said in a court order on Wednesday that Fiat's claims against NTN Corp., NTN Wälzlager (Europa) GmbH and NTN-SNR Roulements SA were withdrawn by consent after the two sides reached a confidential agreement.

The trial, planned to start on Jan. 19, which had been set to decide whether Fiat was overcharged or whether, as NTN argues, any...

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