Shimano, Inc. is reporting that the U.S. District Court in California has issued a Preliminary Approval Order based on a settlement agreement between the plaintiffs of a class action lawsuit and Shimano North America Holding, Inc.
Plaintiffs filed the lawsuit in the U.S. District Court, claiming damages from separation issues with some bonded 11-speed Hollowtech II road cranksets manufactured before 2019.
The lawsuit reportedly argued that the recall was inadequate as it did not cover all affected cranksets, and the replacements (12-speed) might not be compatible with all bikes.
Shimano initiated a recall for the cranksets in 2023, offering free inspections and replacements for those with visible signs of failure. The U.S. CPSC (Consumer Product Safety Commission) also reviewed and approved the voluntary Corrective Action Plan that Shimano proposed.
The CPSC stated at the time that the recall applied to cranks sold over an 11-year period, from January 2012, following a reported 4,519 incidents of cranksets separating.
The court’s final decision on the settlement is expected early next year.
Shimano reported in 2024 that it incurred an extraordinary loss of ¥17 billion (~$114 million) related to the crankset recall and associated expenses.
Image courtesy Shimano, Inc./YouTube
