Bearing manufacturer rigged bids, fined $5 million
August 19th, 2013
Japanese bearings manufacturer JTEKT Corporation has pleaded guilty to rigging bids for parts for Toyota vehicles and was fined $5 million, the Competition Bureau announced recently.
JTEKT obtained leniency in exchange for cooperating with the Bureau’s inquiry.
Including this conviction, the Bureau has racked up three convictions and $40 million in fines in its ongoing auto parts investigations. (See Litigator articles on previous auto parts convictions here and here)