Toray To Pay $15M To Settle Price-Fixing Charges

Law360, New York (May 23, 2008, 12:00 AM EDT) -- Japanese plastics maker Toray Industries Inc. will pay $15 million to settle qui tam allegations that it fixed the prices of and geographically allocated the market for carbon fiber, the U.S. Department of Justice announced on Friday.

Toray and U.S. subsidiary Toray Composites will pay a fine of $15.25 million to bring an end to allegations that accused the company of setting the price for carbon fiber, which is used to make the aircraft, ammunition and satellites purchased by the U.S. government. The company will also...
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