Panasonic Fined $4.7M In Canada For Auto Parts Bid-Rigging

Law360, New York (February 20, 2014, 7:22 PM EST) -- A Canadian court fined Panasonic Corp. CA$4.7 million ($4.25 million) after the company pleaded guilty to rigging bids to supply parts for Toyota Motor Corp. cars made in Canada, the country's competition watchdog announced Thursday.

The Ontario Superior Court of Justice levied the $4.7 million fine after the company pleaded guilty to two counts of bid-rigging under Canada's Competition Act, the Canadian Competition Bureau said.

“Today’s guilty plea is another example of the Bureau’s commitment to pursue those involved in cartel conduct, wherever they are located,” Canada's Commissioner of...
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.