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US: DOJ nets $19M auto parts price-fixing fine

By  |  July 16, 2013
US: DOJ nets $19M auto parts price-fixing fine

A Japan-based auto parts conglomerate agreed to plead guilty to price-fixing and pay a $19 million criminal fine to the US Department of Justice, the Antitrust Division announced Tuesday. The DOJ issued a press release announcing Diamond Electric Manufacturing’s guilty plea after accusing the firm of fixing ignition coil prices; the parts are used in automobiles within the US and elsewhere. The press release said the case is the first of its kind for the Antitrust Division, in which parts were sold directly to a US-based auto company, Ford Motor Co. The DOJ also announced an executive for Autoliv has also agreed to plead guilty to fixing seatbelt prices; the products were sold to Toyota Motor Corp. The DOJ continues to investigate the case.

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