Mexican Media Brands
Kiekert Agrees to Plead Guilty in U.S. to Price Fixing
Kiekert AG, a German supplier of door latches and locks, has agreed to pay a $6.1 million fine and plead guilty to rigging prices in the U.S.
#legal
Share
Kiekert AG, a German supplier of door latches and locks, has agreed to pay a $6.1 million fine and plead guilty to rigging prices in the U.S.
The Dept. of Justice says Kiekert conspired to rig bids and fix prices on components it supplied to Ford Motor Co. between 2008 and 2013.
The supplier's guilty plea is the latest in a continuing international criminal investigation that in the U.S. alone has convicted 48 companies and 65 executives and collected more than $2.9 billion in fines. The Justice Dept. says its Antitrust Div. has uncovered price fixing of more than 50 types of automotive components to date.
RELATED CONTENT
-
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
-
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.
-
Ex-FCA Official Pleads Guilty in Labor Training Fund Scandal
Alphons Iacobelli, a former head of labor relations for Fiat Chrysler Automobiles NV in the U.S., has pleaded guilty of stealing millions of dollars from an employee training fund.