Toyo Tire To Shell Out $120M Over DOJ Antitrust Charges

Law360, New York (November 26, 2013, 4:53 PM EST) -- Toyo Tire & Rubber Co. Ltd. agreed on Tuesday to pay a $120 million fine and plead guilty for its role in two separate schemes to fix automotive component prices, becoming the latest auto parts maker to settle U.S. Department of Justice antitrust charges.

The DOJ accused Osaka, Japan-based Toyo of selling auto parts at fixed prices to automotive giants Toyota Motor Corp., Nissan Motor Corp. and Subaru brand manufacturer Fuji Heavy Industries Ltd. Toyo's conduct included allegedly colluding with competitors to price and sell anti-vibration...
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