Tire antitrust class action suit

[eljefino]

From Reuters:

Feb 7 (Reuters) - Major tire manufacturers including Pirelli, Continental, Michelin, and Nokian were sued on Wednesday in U.S. federal court for alleged price-fixing, days after European Union competition authorities announced an investigation into a possible cartel. The lawsuit was filed by a California resident in Manhattan federal court and seeks class-action status for U.S. purchasers of tires from the tire makers since January 2020. Other companies sued in the case include Bridgestone and Goodyear.

I just filled in info with this law firm, we'll see where it goes. Maybe they'll make a dollar while I get a dime! https://bivens.plaintip.com/index.php/tires-antitrust/

 

[sloinker]

Good! The raw material price doesn't justify the recent doubling of prices imo. Gouging and collusion is what this reeks of. Same as General Mills and others including Walmart store brands, profiting on the backs of the suffering. I think after investigation by the FTC there will be Volkswagen Dieselgate size fines. Billions in fines for many of these gougers. These price increases smack directly at a lack of competition such as you presently find in many industries. Integrated energy companies being the worst. When all the big mergers occurred between the oil companies, many independents were forced out of the game. At that point the behemoths started closing refineries and limited/managed exploration/drilling and supply artificially to make larger profits. Still going on. I know the energy industry apologists will cry over this statement but it is factual. Ever wonder why West Coast Refiners always seem to take their maintenance overhauls at the same time when the prices start to go down. Has little or nothing to do with winter/summer blends. That is a myth. Those turnarounds can be done basically incrementally and on the fly. The lack of competition and the easy merger climate for decades has led to many of our current higher prices. When Albertsons and Safeway merged it screwed the consumer with less choice. The current proposed merger between Kroger and Albertson's is more of the same. The now cancelled merger between Spirit and Jet Blue airlines would have removed a low cost carrier from the marketplace, impacting the everyday Joe much more than the business traveller. Capitalism unchecked isn't always a good thing.

 

[vwmaniaman]

And manufacturers keep putting larger tires on vehicles and have done away with tire sizes like we grew up with. The large sizes increase the un-sprung weight and cost more. Try finding tires in 13 and 14 inch sizes now. Even 15" is hard to find.

 

[Quattro Pete]

I just filled in info with this law firm, we'll see where it goes. Maybe they'll make a dollar while I get a dime! https://bivens.plaintip.com/index.php/tires-antitrust/

Did you get an email asking you to schedule an appointment to discuss your case? Umm... I don't think I want to bother.

 

[Owen Lucas]

When do I get my $7 class action lawsuit check in the mail?

 

[eljefino]

Did you get an email asking you to schedule an appointment to discuss your case? Umm... I don't think I want to bother.

Yeah it's actually kinda sketchy in afterthought. "If they have a case" they may reach out and simplify it IMO.

 

[IveBeenRued]

Why do law firms that do class action lawsuits always have domain names that look like they were made by scammers?

Seriously, bivens.plaintip.com?

 

[sloinker]

Maybe it should be Givin.Justthetip.com

 

[Quattro Pete]

Why do law firms that do class action lawsuits always have domain names that look like they were made by scammers?

Seriously, bivens.plaintip.com?

With so many class action lawsuits out there, there must be a shortage of good domain names left...

 

[SubLGT]

Increasing tire prices are just the tip of the iceberg.

Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows

Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes

www.theguardian.com

‘Greedflation’ caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs

Groundwork Collective crunched Commerce Department data to find shocking greedflation results. But there’s evidence of it in a lot more places.

finance.yahoo.com

 

[SC Maintenance]

Ya, I don't see this going anywhere if there is no federal case on the actual collusion part.

Not saying it didn't happen, but if one raised there price and the rest followed, its no different than gas stations jacking prices up for a pending hurricane. There "just following the market" is a lot different than getting together to agree on pricing in a smoke filled room.

 

[JohnnyG]

Thanks for posting this. Hope it's legit.
I just spent $335.00 per tire on a set of 4 Pirellis.
Can't wait to get my $7.00 check!

BTW, I actually got $12.99 from the GM key fob class action suit!

 

[BLND1]

Huh…. So uncontrolled money printing and un checked government spending didn’t cause inflation…. It was the corporations…..

Got it. How long before this just happens to become a political campaign talking point.

 

[CKN]

When do I get my $7 class action lawsuit check in the mail?

You will get a free tire rotation!

 

[ecotourist]

My experience with class action lawsuits is there is a multi million dollar settlement and (at best) I get $6.

I wonder where the millions go? Oh wait, I know the answer.

 

[edyvw]

And manufacturers keep putting larger tires on vehicles and have done away with tire sizes like we grew up with. The large sizes increase the un-sprung weight and cost more. Try finding tires in 13 and 14 inch sizes now. Even 15" is hard to find.

Aha, and tell us how would 14” tire work on 4700lbs SUV?

 

[SC Maintenance]

And manufacturers keep putting larger tires on vehicles and have done away with tire sizes like we grew up with. The large sizes increase the un-sprung weight and cost more. Try finding tires in 13 and 14 inch sizes now. Even 15" is hard to find.

Directly a function of larger brakes - smaller wheels will not fit over decent size disk brakes. In the days of drum brakes, smaller was possible.

Not to mention larger tires roll easier over our pot hole laden roads.

 

[c502cid]

Aha, and tell us how would 14” tire work on 4700lbs SUV?

They worked on some pretty heavy cars back in the day.

 

[edyvw]

They worked on some pretty heavy cars back in the day.

Pretty heavy cars back in a day needed 15sec or more to 60mph and had 140hp. And those pretty heavy cars are actually light by today’s standards. 1990 Ford F150 had 4200lbs. My Atlas is 4700lbs.
You need to fit large rotors, calipers.

 

[sloinker]

The weight that any tire can support is nothing but an engineering challenge irrespective of diameter imo. Larger disc brakes do indeed need larger wheels but the trade off is larger is not always better as rotating mass eats power. So 22" wheels with spinner hubcaps is just about the bling on passenger vehicles.