The Joplin Globe, Joplin, MO

Business

July 18, 2013

Panasonic to enter plea in price-fixing conspiracy

WASHINGTON — The Justice Department says Panasonic Corp. and a subsidiary, SANYO Electric Co. Ltd., have agreed to plead guilty in a price-fixing conspiracy involving auto parts and battery cells and to pay $56.5 million in criminal fines.

Panasonic’s guilty plea involves prices for auto parts sold to Toyota Motor Corp., Honda Motor Co. Ltd., Mazda Motor Corp. and Nissan Motor Co. Ltd. in the U.S. and elsewhere.

Separately, SANYO and another company, LG Chem Ltd., agreed to plead guilty to conspiring to fix prices of lithium ion batteries sold for notebook computer battery packs. LG Chem has agreed to pay a $1 million criminal fine.

The pleas are part of an ongoing probe in which 11 companies and 15 executives have agreed to pay more than $874 million in criminal fines.

 

1
Text Only
Business
Poll

Given that the U.S. Supreme Court has ruled that electronic devices and communications are protected from searches and seizure without a warrant, do you think Missouri needs Amendment 9 added to its constitution?

A. Yes.
B. No.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Two Women Narrowly Avoid Being Hit by Train In Virginia, the Rise of a New Space Coast New Sanctions on Key Sectors of Russian Economy Crayola Announces Family Attraction in Orlando US Ready to Slap New Sanctions on Russia Kerry: Not Worried About Israeli Criticism Boater Rescued From Edge of Kentucky Dam Girl Struck by Plane on Florida Beach Dies Rodents Rampant in Gardens Around Louvre House to Vote on Slimmed-down Bill for Border Looming Demand Could Undercut Flight Safety Raw: 2 Shells Hit Fuel Tank at Gaza Power Plant Raw: Massive Explosions From Airstrikes in Gaza Giant Ketchup Bottle Water Tower Up for Sale Easier Nuclear Construction Promises Fall Short Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming Traditional African Dishes Teach Healthy Eating