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$66.5 Million Penalty for Fixing Prices of Automotive Parts

Wednesday, May 18, 2016
Sandler, Travis & Rosenberg Trade Report

The Department of Justice announced May 16 that a company based in Japan has agreed to plead guilty and pay a $66.5 million criminal fine for conspiring over a period of 12 years to fix prices, rig bids and allocate the market for ceramic substrates sold in the United States and elsewhere and used in catalytic converters supplied to automobile manufacturers in the U.S. and elsewhere. The company also agreed to cooperate in the DOJ’s ongoing investigation, which has thus far charged 40 companies that have agreed to pay more than $2.6 billion in criminal fines along with 59 individuals.

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