DiCello Levitt Partner Greg Asciolla Appointed Co-Lead Counsel of Nationwide Antitrust Class Action Against Tire Manufacturers

Jul 08, 2024

The United States District Court for the Northern District of Ohio, Eastern Division, on Wednesday appointed DiCello Levitt Partner Greg Asciolla as End-Payor Plaintiffs’ Interim Co-Lead Counsel in an antitrust multidistrict class action lawsuit against some of the largest tire manufacturers in the United States and Europe.

DiCello Levitt originally filed one of the class action complaints in this action in February 2024, alleging that the defendants—the world’s leading tire manufacturers, including Continental, Goodyear, Bridgestone, Michelin, and Pirelli—engaged in a conspiracy to artificially increase the prices of new replacement tires for passenger cars, vans, trucks, and buses. In fact, the complaint alleges that in 2021 and 2022 alone, the average price of tires rose 21.4%, or more than 70% higher than core inflation.

The U.S. lawsuit follows a January 2024 investigation by the European Commission, which included unannounced inspections—also known as “dawn raids”—on the premises of tire companies suspected of being in breach of EU competition rules.

“This unlawful price-fixing scheme harmed tens of thousands of consumers in the United States,” said Asciolla, chair of DiCello Levitt’s Antitrust and Competition Litigation Practice Group and managing partner of the firm’s New York office. “The alleged conspiracy to raise prices of replacement tires forced consumers to pay considerably higher prices for their tires—a purchase vehicle owners usually can’t afford to postpone due to imminent safety concerns.”

Replacement tires are an essential component of vehicle maintenance. With nearly 9.2 million passenger and commercial vehicles being produced and almost 14 million vehicles being sold in the United States in 2022, the U.S. market calls for a considerable number of tires to be manufactured annually. As a result, the U.S. tire industry has an annual footprint of $170.6 billion.

The multidistrict litigation is In re Passenger Vehicle Replacement Tires Antitrust Litigation, No. 5:24-md-03107-SL (N.D. Ohio).

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