Mexican Media Brands
Autoliv, Takata Targeted for Price Fixing in Brazil
Safety system suppliers Autoliv Inc. and Takata Corp. are being investigated in Brazil for possible price fixing, Reuters reports.
#legal
Share
Safety system suppliers Autoliv Inc. and Takata Corp. are being investigated in Brazil for possible price fixing, Reuters reports.
Brazil's anti-trust agency says its probe was prompted by evidence suggesting the two companies colluded on bids and pricing of locally distributed airbags, seatbelts and steering wheels.
Similar investigations in the U.S., Europe and Japan have prosecuted dozens of companies for similar criminal activity. In 2012 Autoliv pleaded guilty to fixing prices on airbags, seatbelts and steering wheels in the U.S. and paid a $14.5 million fine. Takata pleaded guilty a year later to manipulating seatbelt prices and agreed to pay a $71 million criminal fine.
Executives from both companies were found guilty of conspiracy and sentenced to prison.
RELATED CONTENT
-
VW Asks to Delay U.S. Diesel Emission Trials Over Hitler Reference
Volkswagen AG has asked a judge to delay several U.S. lawsuits involving rigged diesel emission controls because a lawyer representing hundreds of VW customers made “inflammatory” comments about the company.
-
U.S. Lawsuit Says Bosch Conspired with VW on Cheater Diesels
A U.S. lawsuit claims Robert Bosch GmbH conspired with Volkswagen AG to equip diesel-powered vehicles with software to cheat emission tests.
-
Four Auto Companies Rank Among the World's Most Ethical
GM and Cooper Standard make the list for the first time, joining long-running honorees Aptiv and Cummins