US levies $740m price-fixing fines against Japanese auto firms

Posted on 1 Oct 2013 by Ruari McCallion

Auto suppliers plead guilty to years of price fixing in the US

The US Department of Justice has levied fines totalling over $740m against nine Japan-based auto parts manufacturers and two executives, for price-fixing. The US Anti-Trust Division has now charged 20 companies and 21 executives in its ongoing investigation and levied fines in excess of $1.5bn.

GM, Ford and Chrysler have all been affected by price-fixing allegations, along with foreign-owned companies.
Nine Japan-based companies and two executives have agreed to plead guilty and to pay a total of more than $740m in criminal fines for their roles in separate conspiracies to fix the prices of more than…

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