Nippon Seiki To Pay $1M In Latest DOJ Auto Parts Plea

Law360, New York (August 28, 2012, 3:42 PM EDT) -- Japanese auto parts supplier Nippon Seiki Co. Ltd. agreed Tuesday in Michigan federal court to plead guilty to criminal antitrust violations and pay a $1 million fine, becoming the latest company to fall in U.S. regulators' sprawling price-fixing and bid-rigging probe into the car parts industry.

The Nagaoka, Japan-based supplier admitted to a one-count felony charge of violating the Sherman Act by colluding with other parts suppliers in order to coordinate their bids to automakers for instrument panel clusters, according to the U.S. Department of Justice....
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