A federal judge sentenced Nippon Chemi-Con to pay a $60M fine related to the company’s antitrust conviction. According to the Department of Justice, the company conspired to fix prices on electrolytic capacitors. The fine is the largest levied to date in the long-running antitrust probe. Electrolytic capacitors store electrical charges, filter frequencies and stabilize power supplies. They are used heavily in electronic devices.
In addition to the fine, the company must also complete five years of probation. During its probationary period, the company must produce and implement a compliance program. The company must also submit annual compliance reports to the Department of Justice.
Earlier this year, the company pleaded guilty to conspiracy to reduce competition among capacitor manufacturers. According to the Department of Justice, the conspiracy operated from 2001 to 2014. The Department of Justice charged the company with antitrust violations in October of last year in Northern California. Federal investigators say capacitor manufacturers agreed to specific sales targets for their products. The companies also took steps to conceal the conspiracy. The conspiracy involved price fixing, bid rigging and market allocation among the “competitive” companies.
To date, eight companies and 10 individual executives face or faced criminal charges in the probe. All eight companies pleaded guilty; collectively, they paid fines totaling $150M. Of the ten individuals, two defendants pleaded guilty. Eight executives remain under indictment. Four of the indicted executives worked for Nippon Chemi-Con.
California Antitrust lawyer
When you face criminal charges for anticompetitive practices, hire an experienced antitrust lawyer like Robert Helfend. Mr. Helfend has more than 30 years of experience in criminal defense. He takes federal cases in any circuit in the United States.
His first priority will be to get the charges against you reduced or dropped. When that’s not a possibility, he will work toward the best possible outcome for your case. Having an experienced, aggressive attorney on your side is important in federal defense. Don’t assume that the government’s high conviction rate means that you have little chance of acquittal.
Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County antitrust case.
Photo Credit: Roan Fourie, via Flickr.com