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Competition Law: Information, Updates and Analysis (Covering August, September, October and November 2013)

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Competition Law: Information, Updates and Analysis (Covering August, September, October and November 2013)

UNITED STATES OF AMERICA

United States of America v. JTEKT Corporation

September 26, 2013

JTEKT Corporation, Japan and the United States of America entered into a Plea Agreement concerning allegations of anti-competitive conduct in the automotive parts industry.

The Information contained two separate conspiracy charges involving automotive components supplied to major automobile manufacturers.

  • Market allocation arrangements
  • Bid rigging practices
  • Price fixing and stabilization of bearings sold to Toyota and other manufacturers
  • Price fixing of electric powered steering assemblies supplied to Nissan

The conduct was alleged to have violated Section 1 of the Sherman Antitrust Act.

The Sentencing Agreement provided for a Guidelines Fine Range between $129.09 million and $258.18 million.

United States of America v. Kuo Hsuan “Chuck” Chang

November 04, 2013

The defendant entered into a Plea Agreement concerning bid-rigging and fraudulent conduct involving public property auctions in San Francisco County.

  • Conspiracy to rig bids at public auctions
  • Suppression of competition in property acquisitions
  • Fraud against mortgage holders and debt holders
  • Use of false and misleading representations

The Sentencing Agreement prescribed separate fines for each count.

United States of America v. Daniel Rosenbledt

November 05, 2013

The defendant entered into a Plea Agreement involving multiple charges related to foreclosure auction bid-rigging and mail fraud.

  • Bid rigging at foreclosure auctions in San Mateo County
  • Conspiracy to commit mail fraud
  • Bid rigging at foreclosure auctions in San Francisco County
  • Additional conspiracy to commit mail fraud

The Sentencing Agreement provided composite penalties for the related counts.

United States of America v. Mitsuba Corporation

November 06, 2013

Mitsuba Corporation and the United States entered into a Plea Agreement relating to anti-competitive practices in the automotive parts industry.

  • Conspiracy to suppress competition in automotive parts markets
  • Price fixing and market allocation
  • Destruction and concealment of evidence
  • Obstruction of investigation

Mitsuba agreed to pay a criminal fine of $135 million in instalments over a period of five years.

United States of America v. Yasuhiko Ueno

November 21, 2013

Three senior executives of Takata Corporation pleaded guilty for participating in a conspiracy involving seatbelt price fixing and bid rigging.

  • Price fixing of automotive seatbelts
  • Bid rigging involving major automobile manufacturers
  • Coordination of bids submitted to customers
  • Violation of the Sherman Antitrust Act

The executives received prison sentences ranging from 14 to 19 months and criminal fines of $20,000 each.

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