Panasonic fined $56.5 million over conspiracy to fix prices of laptop battery packs and auto parts


Japanese electronics giant Panasonic will plead guilty to US government charges that the company conspired to fix prices in two major markets: laptop battery packs and auto parts. Panasonic has agreed to pay $ 56.5 million in total fines for the two separate conspiracies and 15 executives at several companies will be serving jail time as part of the deal, the Justice Department announced last week. When it comes to the auto parts portion of the conspiracy, Panasonic’s price-fixing is reported to have gone back at least 15 years, to 1998.

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