Nippon Seiki pleading guilty to price fixing
Aug 28, 2012 | 01:28 PM
| Corinna Petry
Tags
Nippon Seiki,
antitrust charge,
instrument panel clusters,
bid rigging,
price fixing,
conspiracy,
Justice Department,
antitrust probe
automakers
CHICAGO — Nippon Seiki Co. Ltd. has agreed to plead guilty and pay a $1-million fine for its role in an alleged conspiracy to fix prices of instrument panel clusters, or meters, installed in vehicles sold in the United States and abroad, the U.S. Justice Department said Tuesday.
Nippon Seiki allegedly engaged in a conspiracy to rig bids for, and to fix, stabilize and maintain the prices of, instrument panel clusters sold to automakers between April 2008 and February 2010, according to a one-count felony charge filed in U.S. District Court in Michigan. The company allegedly met with others in order to rig bids and fix prices for vehicles on a model-by-model....
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