Japanese Firm Pleads Guilty to Fixing Pricing on Parts for U.S. Cars
Japan's Nippon Seiki Co. agreed to plead guilty and to pay a $1 million criminal fine for a conspiracy to fix prices of instrument panel clusters installed in cars. According to a one-count felony charge, Nippon Seiki engaged in conspiracies…
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to rig bids for, and to fix, stabilize and maintain the prices of instrument panel clusters, from at least as early as April 2008 until at least February 2010. Including Nippon Seiki, eight companies and 11 executives have been charged in the department's ongoing investigation into price fixing and bid rigging in the auto parts industry, Justice said.