Singapore Hits Electronics Cos. With $14.7M In Cartel Fines
Law360, New York (January 5, 2018, 8:24 PM EST) -- Singapore’s competition enforcer became the latest to tackle alleged cartel activity in the electrolytic capacitor sector on Friday, fining four electronics companies a record SG$19.6 million ($14.7 million) for fixing prices and sharing information about the components.
The Competition Commission of Singapore said in a statement Friday that local subsidiaries of Panasonic Corp., Elna Co., Rubycon Corp., Nippon Chemi-Con Corp. and Nichicon Corp. coordinated on prices for the parts and shared confidential information about their sales and distribution between 1997 and 2013. The commission said it opened its probe after Panasonic came forward in October 2013 seeking leniency.
Panasonic was not...
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