Bridgestone To Pay $28M In Bid-Rigging, Bribery Case

Law360, New York (September 15, 2011, 2:27 PM EDT) -- Federal prosecutors said Thursday that Bridgestone Corp. had agreed to pay $28 million as part of a plea deal in Texas to resolve criminal probes into its role in plots to rig bids for marine hose products and bribe foreign officials.

The Tokyo-based tire manufacturer agreed to plead guilty to violating the Sherman Act and the Foreign Corrupt Practices Act, charges that the U.S. Department of Justice also filed in Houston federal court Thursday.

The plea agreement, which still requires court approval, covers two separate conspiracies:...
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