TRW Subsidiary To Pay $5.1M Antitrust Fine
LIVONIA, Mich. (AP) — Automotive supplier TRW Automotive Holdings Corp. said Monday that its German subsidiary will pay a fine of $5.1 million to settle antitrust violations with the U.S. Department of Justice.
TRW Deutschland Holding GmbH agreed to plead guilty to one count of conspiracy in restraint of trade involving sales of occupant safety products. Once it's approved by the court, the settlement will conclude the DOJ's current investigation, the Livonia, Mich.-based company said.
The terms of the deal also call for all but one employee, who TRW didn't name, to be protected against U.S. prosecution for the antitrust offenses. The DOJ hasn't determined whether the employee will be prosecuted, TRW said.
The related European Commission investigation into possible antitrust violations is ongoing, TRW said.
TRW shares rose $1.85, or 5.4 percent, to $36.37 in afternoon trading.