Bosch to plead guilty to price fixing, pay $58M fine - The Detroit News
German auto parts maker Robert Bosch GmbH agreed to plead guilty and pay a $57. 8 million for price fixing. The Justice Department said Bosch — which has its North American headquarters in Farmington Hills and is the world’s largest independent supplier — agreed to plead guilty in a conspiracy to fix prices and rig bids for spark plugs, oxygen sensors... According to a one-count felony charge filed Tuesday in U. S. District Court in Detroit, Bosch conspired to rig bids and fix prices for spark plugs and oxygen sensors in then-DaimlerChrysler AG, Ford Motor Co. , General Motors Co. and auto... The charge against Bosch is the latest in the government’s sweeping investigation into anticompetitive conduct in the automotive parts industry. Including Bosch, 34 companies and 29 executives have pleaded guilty or agreed to plead guilty in the ongoing investigation into price fixing and bid rigging and have agreed to pay a total of nearly $2. 5 billion in criminal fines. Source: www.detroitnews.com
