Furukawa To Pay $200M In Auto Parts Antitrust Case

Law360, New York (September 29, 2011, 12:19 PM EDT) -- Automotive wire harness supplier Furukawa Electric Co. Ltd. has agreed to plead guilty and pay a $200 million criminal fine for participating in a price-fixing and bid-rigging conspiracy involving the sale of parts to automakers, the U.S. Department of Justice announced Thursday.

In the first charges to emerge from the government's ongoing antitrust probe into the auto parts industry, prosecutors filed four separate one-count felony charges Thursday in Michigan federal court, alleging that Furukawa and three executives were involved in a plot to rig bids for...
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