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$14.9 Million Criminal Fine for Auto Parts Price Fixing

Monday, June 29, 2015
Sandler, Travis & Rosenberg Trade Report

The Department of Justice announced June 29 a $14.9 million criminal fine against a company that pleaded guilty to participating in a five-year scheme to fix prices for parking heaters used in commercial vehicles. According to a DOJ press release, the company and its co-conspirators discussed prices, agreed to set a price floor for parking heater kits for commercial vehicles sold to aftermarket customers and agreed to coordinate the timing and amount of those increases. The company pleaded guilty to violating the Sherman Act, which carries a maximum penalty of a $100 million criminal fine for corporations that may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime if either of those amounts is greater than the statutory maximum.

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