Japanese Auto Parts Co. Pleads Guilty In Price-Fixing Probe

Law360, New York (April 3, 2012, 6:13 PM EDT) -- Japanese auto parts maker G.S. Electech Inc. has agreed to plead guilty in Michigan federal court and pay a $2.75 million fine in connection with a price-fixing scheme involving wire parts for anti-lock brake systems installed in U.S. cars, the U.S. Department of Justice said Tuesday.

The plea comes months after three other Japanese auto parts manufacturers — Yazaki Corp., Denso Corp. and Furukawa Electric Co. Ltd. — copped to their roles in alleged auto parts price-fixing schemes, including one involving wire parts, and agreed to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.