Japanese Supplier Becomes The 8th To Plead Guilty In Price Fixing Scams

A Japanese auto supplier of fuel gauges, speedometers and instrument clusters has become the eighth company to plead guilty in a widening federal crackdown on automotive supplier price-fixing.

Nagaoka, Japan-based Nippon Seiki Co. Ltd., which houses its NS International Ltd. headquarters in suburban Detroit, will pay $1 million and plead guilty to one count of conspiracy to restrain trade in violation of the Sherman Antitrust Act, in a deal disclosed today with the U.S. Department of Justice Antitrust Division.

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HughJass - 8/30/2012 12:14:59 PM

+1 Boost

Why do they need to fix prices when most Asian gov'ts just cover any losses incurred by selling products overseas?