According to a one-count felony charge filed today in the U.S. District Court for the Southern District of Ohio, the company participated in a conspiracy to fix prices, allocate customers and rig bids for automotive steel tubes sold to automobile manufacturers in the United States and elsewhere. The company's wholly-owned U.S. subsidiary, and sales executives, were previously indicted on June 15, for their alleged participation in the conspiracy. In addition to the company's agreement to pay a $7.2 million criminal fine, the manufacturer has agreed to cooperate with the department’s ongoing investigation. The plea agreement is subject to court approval.
To read the netire DOJ Press Release please follow this link: $12M for Antitrust Violations