Bridgestone Fined $425 Million

Bridgestone Corp. shared news that it has entered into a plea agreement with the U.S. Department of Justice on antitrust activities and accepted a $425 million fine.
But it omitted to mention that the amount to be paid is so large because this isn’t the first time Bridgestone has been found guilty of price-fixing in the United States. In a statement published yesterday, the Department of Justice confirmed that Bridgestone’s failure to disclose its participation when pleading guilty to other violations in October 2011 was a “factor in determining the $425 million fine.”

On Feb. 13, Bridgestone pleaded guilty to an antitrust conspiracy related to the sale of automotive anti-vibration rubber products. Bridgestone will pay the fine, and said it now intends to “take appropriate disciplinary action against certain responsible employees” in accordance with applicable corporate standards. The case involved parts sold to Toyota, Nissan, Fuji Heavy Industries, Suzuki, Isuzu Motors and some of their subsidiaries and affiliates. Some 26 companies agreed to plea deals in an investigation that results in more than $2 billion in fines.

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Source Tire Review

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