Lear Corp. part of European Commission investigation into anti-competitive practices

Lear Corp. says it’s part of investigation

SOUTHFIELD, Mich. — Lear Corp. said Thursday it has been told by the European Commission that the company is part of an investigation into anti-competitive practices among automotive electrical and electronic component suppliers.

The commission has stated that the investigation doesn’t mean the companies involved are involved in anti-competitive behavior, Lear Corp. said in a statement.

“Lear is cooperating fully with the European Commission in their investigation, and I am confident that our company is not involved in any anti-competitive practices,” said Bob Rossiter, Lear’s chairman, CEO and president.

Lear Corp. is a supplier of automotive seating and electrical power management systems.

Its shares fell 61 cents to $68.90 in Thursday regular-session trading and shed another 40 cents in aftermarket dealings.