- Associated Press - Friday, September 18, 2015

CINCINNATI (AP) - The Justice Department says a Japanese company charged in a conspiracy to fix prices of shock absorbers installed in cars and motorcycles sold to U.S. customers agreed to plead guilty and pay a $62 million fine.

Court documents show a charge of conspiracy to restrain trade was filed Wednesday in federal court in Cincinnati against Kayaba Industry Co. Ltd., doing business as KYB Corp.

A Justice Department statement says the Tokyo-based company conspired from the mid-1990s until 2012 to fix prices of shock absorbers sold to competitors.

Messages were left Thursday for KYB attorneys.

The plea agreement is subject to court approval

It resulted from an ongoing investigation of anticompetitive conduct in the auto parts industry. Charges against numerous companies and executives have led to $2.6 billion in criminal fines.

Sign up for Daily Newsletters

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide