Auto parts firms agree to pay California $23 million in antitrust probe [Reuters]
DENSO CORP UNSP/ADR (DNZOY)
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Source: Reuters
Auto parts firms agree to pay California $23 million in antitrust probe WASHINGTON, Dec 4 (Reuters) - A group of 52 auto parts manufacturers has agreed to pay California $23 million as part of a decade-old investigation into antitrust law violations stemming from illegal bid rigging, the state said on Wednesday. Following an investigation by the U.S. Justice Department that began about 10 years ago, 46 companies pled guilty to price-fixing and bid-rigging in the auto parts industry in response to requests from automakers for bids and agreed to pay a total of nearly $3 billion in fines. More than 22 million cars are registered in California, the most of any U.S. state. The largest California settlement is with Japan’s Denso Corp for $4.5 million, California Attorney General Xavier Becerra said in a statement. Denso did not immediately comment. In 2013, the Justice Department said international price fixing conspiracies affected more than $5 billion in automobile parts used in U.S. vehi
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