Antitrust Division ends year with highest level of criminal fines ever in 122-year history of Sherman Antitrust Act
The Antitrust Division obtained more than $1.13bn in criminal fines in fiscal year 2012 (October 2011–September 2012), the highest in the 122-year history of the Sherman Antitrust Act. More impressive, this year’s fine total does not include the additional $218m the Antitrust Division secured for state and federal agencies in alternative penalties, disgorgement and restitution, in connection with the Municipal Bonds investigation. Including those figures, the Antitrust Division obtained a staggering $1.35bn from a mere 14 corporations in fiscal year 2012.
Two of the largest individual antitrust fines ever imposed account for 86 per cent of the Antitrust Division’s fine windfall this fiscal year. In January, Yazaki Corporation agreed to pay $470m — the second-largest criminal fine obtained for a Sherman Act violation — for fixing prices in the market for auto parts. And not to be outdone, in September AU Optronics (AUO) was penalised with a $500m fine for fixing prices in the TFT-LCD market. The $500m fine tied the largest individual fine ever imposed for a Sherman Act violation…
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.