Mexican Media Brands
Three More Suppliers to Plead Guilty in U.S. of Price Fixing
Japan’s Elna Co. and Rubycon Corp. and Samoa’s Holy Stone Holdings Ltd. have agreed to plead guilty of conspiring to fix prices on electronic capacitors sold in the U.S. and elsewhere.
#legal #electronics
Share
Japan’s Elna Co. and Rubycon Corp. and Samoa’s Holy Stone Holdings Ltd. have agreed to plead guilty of conspiring to fix prices on electronic capacitors sold in the U.S. and elsewhere.
The three suppliers secretly rigged bids on the devices between at least 1997 and 2014, according to the U.S. Dept. of Justice. Capacitors, which are used to store and regulate electricity, are a ubiquitous part of electrical circuits and electronic devices.
The three companies also agreed to pay undisclosed criminal fines and cooperate with the Justice Dept.’s continuing investigation.
The department notes that NEC Tokin Corp. and Hitachi Chemical Co. previously pleaded guilty of participating in the same conspiracy. They were fined nearly $14 million and $4 million, respectively, earlier this year.
RELATED CONTENT
-
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.
-
Uber Fires Levandowski Over Waymo Lawsuit
Rider-share provider Uber Technologies Inc. has fired Anthony Levandowski, who headed its autonomous vehicle program until stepping aside in April.
-
Takata Opens $850 Million Fund to Pay Carmakers for Airbag Woes
Takata Corp. has launched an $850 million fund in the U.S. to repay carmakers for a portion of their costs to recall Takata airbag inflators that can explode when triggered by a crash.