[NJARC] Three Companies Agree to Plead Guilty for Fixing Prices of Electrolytic Capacitors

[Bill Zukowski]

I hope Mat and Sal don't go to capacitor jail!


On 8/25/2016 6:37 PM, TrainBee via NJARC wrote:
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> Joe Devonshire
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>   Justice News
>
> Department of Justice
> Office of Public Affairs
> ------------------------------------------------------------------------
> FOR IMMEDIATE RELEASE
> Monday, August 22, 2016
>
>
>   Three Companies Agree to Plead Guilty for Fixing Prices of
>   Electrolytic Capacitors
>
> */Rubycon, Elna and Holy Stone Are Latest Companies to Plead Guilty in 
> Ongoing Investigation/*
> Rubycon Corporation, Elna Co., Ltd. and Holy Stone Holdings Co., Ltd. 
> will plead guilty for their roles in a conspiracy to fix prices for 
> electrolytic capacitors sold to customers in the United States and 
> elsewhere, the Department of Justice announced today.
> “The Antitrust Division has now charged five companies and one 
> individual for their participation in this international price-fixing 
> conspiracy,” said Deputy Assistant Attorney General Brent Snyder of 
> the Justice Department’s Antitrust Division.  “The electrolytic 
> capacitors conspiracy affected millions of American consumers who use 
> electronic devices containing capacitors every day.”
> Electrolytic capacitors store and regulate electrical current in a 
> variety of electronic products, including computers, televisions, car 
> engine and airbag systems, home appliances and office equipment.
> The division filed one-count felony charges against each of the three 
> companies in U.S. District Court in San Francisco today.  In addition 
> to pleading guilty to the charges against them, each company has 
> agreed to pay a criminal fine and cooperate with the division’s 
> ongoing investigation.  The plea agreements are subject to court 
> approval.
> Previously, NEC TOKIN Corp. and Hitachi Chemical Co. Ltd. pleaded 
> guilty to participating in the same worldwide conspiracy.  NEC TOKIN 
> was sentenced to pay a fine of $13.8 million in January 2016, and 
> Hitachi Chemical was sentenced to pay a fine of $3.8 million in June 
> 2016.  On March 12, 2015, a grand jury indicted Takuro Isawa, a former 
> Global Sales General Manager for one of the capacitor manufacturers, 
> for his alleged participation in the conspiracy.
> The charges today results from an ongoing federal antitrust 
> investigation being conducted by the Antitrust Division’s San 
> Francisco Office and the FBI’s San Francisco Field Office into price 
> fixing, bid rigging and other anticompetitive conduct in the capacitor 
> industry.  Anyone with information on price fixing, bid rigging or 
> other anticompetitive conduct related to the capacitors industry 
> should contact the Antitrust Division’s Citizen Complaint Center at 
> 1-888-647-3258, visit _www.justice.gov/atr/contact/newcase.html_ 
> <https://www.justice.gov/atr/contact/newcase.html> or call the FBI tip 
> line at 415-553-7400.
> Elna Information <https://www.justice.gov/opa/file/887081/download>
> Holy Stone Information <https://www.justice.gov/opa/file/887076/download>
> Rubycon Information <https://www.justice.gov/opa/file/887071/download>
>
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