Koito To Pay $56.6M In Auto Parts Price-Fixing Plea
Law360, New York (January 16, 2014, 2:05 PM EST) -- Japanese auto parts maker Koito Manufacturing Co. Ltd. has agreed to pay $56.6 million and plead guilty to conspiring to fix the price of headlight fixtures and related products for more than a decade, the U.S. Department of Justice said Thursday.
Koito admitted to taking part in two separate plots to fix the prices of and rig bids for automobile light fixtures including headlight and rear-light assemblies as well as lamp ballasts, which regulate the current used in high-intensity discharge lamps, according to the Justice Department.
The Tokyo-based company has also agreed to cooperate with the DOJ's ongoing probe into the...
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