Latest news

« »

Saturday, 4 February 2012

US: penalties imposed for price-fixing by electrical components suppliers

We have reported the increasingly widespread investigations by competition authorities into price-fixing in the components industry in recent months. Now the U.S. Department of Justice, which was quoted recently as saying that this investigation was the biggest it had undertaken, has announced that Yazaki and Denso, two Japanese automotive electrical components suppliers, have agreed to plead guilty to charges of  multiple price-fixing and bid-rigging conspiracies in the sale of parts to automobile manufacturers in the US.
They will pay a total of $548m in criminal fines (including the second-largest ever criminal fine under the Sherman Act), and a number of executives will serve time in prison.

No comments:

Post a Comment