Japanese Auto Supplier Admits To Price-Fixing, Will Pay $19M

Law360, Chicago (July 16, 2013, 3:56 PM EDT) -- Japan-based Diamond Electric Mfg. Co. Ltd. will pay a $19 million fine after agreeing to cop to its role in a price-fixing conspiracy involving ignition coils sold to Ford Motor Co. and others, the U.S. Department of Justice said Tuesday.

Diamond Electric’s guilty plea in Michigan federal court represents the first case in the government’s sprawling antitrust probe of the auto parts industry to involve parts sold directly to a U.S.-based company, according to a statement from the DOJ, which also announced a separate guilty plea...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.