Cohen, Milstein, Hausfeld & Toll Announce Class Action Lawsuit Against Mercedes-Benz

    WASHINGTON--Feb. 20, 2003--A federal court in New Jersey has ruled that a lawsuit that accuses Mercedes-Benz and its New York, New Jersey, and Connecticut area dealers of engaging in a conspiracy to fix the price of new Mercedes-Benz automobiles may proceed as a class action on behalf of all purchasers of such vehicles in the tri-state region from 1991 through 1999.
    The lawsuit is based in part on the allegations made by one of the dealers in a counter suit against Mercedes. The class action lawsuit on behalf of purchasers or lessees of new vehicles was filed in 1999. In 2002 Mercedes revealed, in its SEC filings, that a grand jury had been empanelled to hear evidence relating to the allegations.
    "We are very pleased that Judge Wolin has held that this case should go forward on a class basis," said Paul Gallagher of Cohen, Milstein, Hausfeld & Toll,(D.C.) one of the lead lawyers for the plaintiffs. "This decision enables everyone who purchased or leased a new Mercedes-Benz between 1991 and 1999 to be represented in a single action, which will determine whether each of the class members are entitled to a refund resulting from a conspiracy by Mercedes and the dealers not to discount prices below an agreed-upon level."
    A copy of today's decision is available on the Cohen Milstein website at www.cmht.com