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Business Crimes Hotline
WASHINGTON, DC
Price-Fixing Conspiracy Investigation
On Sept. 26, the Department of Justice (DOJ) announced the latest round of enforcement action in its ongoing antitrust investigation into price-fixing of automotive parts. Specifically, the DOJ reached agreements with nine additional Japan-based companies and two additional individuals to enter guilty pleas to felony violations of the Sherman Act, as well as other related counts. In connection with the pleas, which remain subject to court approval, the companies have agreed to pay a combined $740 million in criminal fines. Four of the companies agreed to criminal penalties of more than $100 million, as follows: Hitachi Automotive Systems Ltd. ($195 million); Jtekt Corporation ($103.27 million); Mitsuba Corporation ($135 million); and Mitsubishi Electric Corporation (MELCO) ($190 million).
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