Panasonic To Pay $56.5M To Settle Price-Fixing Suits

Law360, Los Angeles (July 18, 2013, 6:17 PM EDT) -- Panasonic Corp. and its subsidiary Sanyo Electric Co. Ltd. have agreed to plead guilty and pay $56.5 million in criminal fines for their roles in separate price-fixing conspiracies involving automotive parts and battery cells for computers, the U.S. Department of Justice announced Thursday.

Osaka, Japan-based Panasonic will pay $45.8 million for its role in an automotive parts conspiracy, while Sanyo will pay $10.731 million and secondary battery manufacturer LG Chem Ltd. will pay $1.06 million in connection with their respective roles in the battery cells conspiracy....
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