DOJ Indicts Panasonic Executive Over Auto Parts Cartel

Law360, New York (September 24, 2013, 8:13 PM EDT) -- A federal grand jury indicted a Panasonic Automotive Systems Corp. executive Tuesday for allegedly conspiring to fix the prices of switches and steering angle sensors purchased by Toyota Motor Corp., the latest charges in the U.S. Department of Justice's auto parts industry probe.

Prosecutors charged Shinichi Kotani, director of global automotive marketing and sales at Panasonic, with conspiring to rig bids and fix prices of auto parts sold to Toyota for the better part of a decade, the DOJ said.

According to the indictment, the Japanese...
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.