Panasonic To Pay $1.5M In Canadian Price-Fixing Plea

Law360, New York (November 3, 2010, 12:43 PM EDT) -- Panasonic Corp. has pled guilty to fixing prices for hermetic compressors it sold to a Canadian refrigerator and freezer manufacturer, becoming the second company to agree to a CA$1.5 million ($1.48 million) criminal fine in the case.

The Federal Court in Toronto signed off on Panasonic's guilty plea Tuesday, ending the Canadian Competition Bureau's investigation into the price-fixing conspiracy between the electronics giant and Whirlpool SA unit Embraco North America Inc.

Competition Commissioner Melanie Aitken praised Panasonic's cooperation in the probe Wednesday, saying it allowed the...
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