EU Fines Ball Bearing Makers $1.3B For Price-Fixing

Law360, New York (March 19, 2014, 3:45 PM EDT) -- The European Commission slapped five companies with fines totaling nearly €1 billion ($1.3 billion) for conspiring to fix the prices of ball bearings used in automobiles, the regulator said in a statement Wednesday.

The commission, which acts as the European Union's antitrust watchdog, fined three Japanese and two European companies a combined €953,306,000 for scheming to fix ball bearing prices from 2004 to 2011.

The Japanese companies include NSK Ltd., NFC and NTN Corp., while the European companies involved in the settlement are Schaeffler AG of...
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