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Matsuo Electric Co. Ltd. agreed to pay $5 million midway through a California federal antitrust trial to end claims that it participated in a decadelong global conspiracy to fix capacitor prices, causing direct purchasers to be overcharged by $427 million, the company announced Friday.
Matsuo Electric Co. Ltd. reached a settlement with direct purchasers of capacitors midway through a California federal antitrust trial Wednesday, leaving two capacitor manufacturers as defendants in a $427 million suit alleging a decadelong global conspiracy to fix prices for the electronic part.
A California federal jury considering a $427 million price-fixing suit against three capacitor manufacturers heard testimony Tuesday about how workers would routinely meet for golf, karaoke and drinking after bi-annual industry meetings, schmoozing and sharing price information with competitors.
A California federal jury considering a $427 million price-fixing suit against three capacitor manufacturers heard testimony Tuesday about how workers would routinely meet for golf, karaoke and drinking after bi-annual industry meetings, schmoozing and sharing price information with competitors.