Sanyo To Pay $10.7M For Battery Price-Fixing After Guilty Plea

Law360, San Francisco (September 20, 2013, 10:07 PM EDT) -- Sanyo Electronics Co. Ltd. pled guilty in California federal court Friday and was ordered to pay $10.7 million for participating in a conspiracy with other electronics companies to fix the prices on cylindrical lithium-ion batteries used in laptop computer battery packs.

Yoshio Ito, representing Sanyo's board of directors, affirmed the plea through a Japanese translator. Sanyo participated in the conspiracy between April 2007 and September 2008, ultimately selling more than $36 million worth of the battery cells through United States commerce, said Alexandra Shepard, an attorney...
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