This investigation and pending class action lawsuit against Honda Motor Company, Inc. and Michelin North America, Inc. was settled in January, 2009.
This investigation focused on Acura RL model vehicles and Honda Odyssey Touring Edition vans equipped with "technology package" which included the Michelin PAX Tire and Wheel Assembly System. The class action lawsuit alleged that Honda and Michelin intentionally misrepresent the benefits of the PAX system, the availability of repair facilities equipped to replace PAX system tires and the costs of replacing PAX system tires. The class action lawsuit also alleges that Honda and Michelin failed to disclose to consumers the markedly shorter tread life of the PAX system tires.
Pursuant to the settlement agreement, Michelin agreed to provide a supplemental 3 year or 36,000 warranty on all Michelin PAX Tire and Wheel Assembly System.
Name (Stock Symbol)
Honda Motor Co. Ltd (HMC)
Honda Motor Co., Ltd., together with its subsidiaries, develops, manufactures, distributes, and sells motorcycles, automobiles, and power products worldwide.
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