$6.1 Million Fine for Bid Rigging in Auto Parts Industry
The Department of Justice reports that an automotive parts manufacturer based in Germany has agreed to plead guilty and pay a $6.1 million criminal fine for its role in a conspiracy to allocate sales, rig bids, and fix prices for side-door latches and latch minimodules sold to automakers in the U.S. and elsewhere between September 2008 and May 2013. Side-door latches secure car doors to the body, while latch minimodules include the side-door latch and all related mechanical operating components, including the electronic lock function.
The company has also agreed to cooperate with the DOJ’s ongoing antitrust investigation into price fixing, bid rigging, and other anticompetitive conduct in the auto parts industry. A total of 48 companies and 65 executives have now been charged in this investigation and have agreed to pay a total of more than $2.9 billion in criminal fines.