Japanese Auto Firms, Execs to Plead Guilty to Rigging Prices for Products Sold in U.S.
Nine Japan-based companies and two executives have agreed to plead guilty -- and to pay a total of more than $740 million in criminal fines -- for their roles in separate conspiracies to fix the prices of more than 30…
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different products sold to U.S. car manufacturers and installed in cars sold in the U.S. and elsewhere, said Attorney General Eric Holder at a press conference. He said the international price-fixing conspiracies affected more than $5 billion in automobile parts sold to U.S. car manufacturers, and more than 25 million cars bought by American consumers. Holder said the investigation "uncovered involved more than a dozen separate conspiracies" that resulted in "collusive agreements to rig bids, fix prices and allocate the supply of auto parts sold to U.S. car companies."