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US/Japan: Hitachi next to pay for auto parts price-fixing

 |  November 2, 2014

The US Department of Justice just added a new company on its list of firms guilty of conspiring to manipulate auto parts prices.

According to reports, Tokyo-based Hitachi will plead guilty to the collusion and pay a $1.25 million fine. The company was accused of manipulating prices of car parts installed in Toyota vehicles.

The DOJ accused Hitachi and its co-conspirators of fixing product prices and agreeing to divide supplies up between each other.

Authorities continue to expand their largest-ever price-fixing investigation, a case that has so far netted 44 individual guilty pleas, 30 company guilty pleas, and nearly $2.4 billion in fines.

Full content: Courthouse News Service

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