$42 Million Criminal Fine for Price Fixing
A Japanese company will pay a $42 million fine after pleading guilty for its role in a ten-year conspiracy to fix prices for electrolytic capacitors sold to customers in the U.S. and elsewhere, the Department of Justice reports. Electrolytic capacitors store and regulate electrical current in a variety of electronic products, including computers, televisions, car engines and airbag systems, home appliances, and office equipment.
The company has also agreed to cooperate with the Antitrust Division’s ongoing investigation into price fixing, bid rigging, and other anticompetitive conduct in the capacitor industry. The division has charged a total of seven companies and ten individuals in this investigation and is continuing to pursue others.