Another Japanese company has been indicted in the U.S. on bid-rigging/price-fixing charges. Such conduct isn't illegal in Japan, but it does violate U.S. law, specifically the Sherman Antitrust Act of 1890 (Sherman Act, 26 Stat. 209, 15 U.S.C. §§ 1–7). It's not that Japan condones illegal activity, per se. It's just a difference in philosophy on what conduct is permissible to promote corporate welfare.
Unfortunately, many Japanese and Korean companies aren't fully cognizant of the extent of U.S. law against such conduct as bid-rigging and price-fixing. Corning International Kabushiki Kaisha ("Corning IKK") is the latest to fall victim to its own price-fixing schemes. As a result of the investigation by the U.S. Department of Justice, over 59 individuals have been charged, including a former executive of Corning IKK. Japanese national Nobuhiko Niwa was indicted in the Eastern District of Michigan on May 11, 2016. The DOJ alleges the conspiracy ran from July 1999 to July 2011. See this DOJ press release for further reading.
Through our own preliminary investigation, we know that—statewide and locally here in Louisville—Kentucky distributors, resellers, and even indirect purchasers (i.e., automobile customers) have been financially injured by this price-fixing scheme. Kentuckians paid more through artificially inflated prices and bid-rigging, and are entitled to recovery through Sherman Act antitrust litigation. If you think you might have been injured, contact us today to find out how you might be able to recover monies lost due to Corning IKK's price-fixing schemes dating back to 1999.