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US/Japan: DOJ nabs yet another auto parts settlement

By  |  November 13, 2014

The US Department of Justice announced Thursday that it has nabbed yet another guilty plea in its crackdown on auto parts price-fixing, bringing the number of companies agreeing to plead guilty to 31.

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    Japan-based Aisin Seiki agreed to plead guilty and pay a $35.8 million fine following allegations by the DOJ that the company conspired to manipulate car parts prices, hiking rates for car companies in the US.

    The DOJ’s investigation into the alleged conspiracy is its largest price-fixing case ever.

    According to the DOJ, Aisin Seiki colluded with rivals between 2000 and 2010 to divide the market amongst themselves and to predetermine rates for their products offered to car makers.

    Full content: Reuters

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