Japanese Auto Parts Co. Fined $5M Over Bid-Rigging Scheme

Law360, New York (April 4, 2013, 3:00 PM EDT) -- Canadian competition authorities said Thursday that Furukawa Electric Co. Ltd., a Japanese supplier of automotive parts, has been fined about $5 million for taking part in an international bid-rigging scheme in the industry.

The fine, CA$5 million (US$4.9 million), was handed down by the Ontario Superior Court of Justice, and marks the largest fine ever ordered by a Canadian court for a bid-rigging offense under the country's Competition Act, according to a statement issued by Canada's Competition Bureau.

John Pecman, the interim commissioner of competition for...
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