Philip Giordano Discusses Possibility of Worldwide Cartel Investigation into Electronic Capacitor Companies in Policy & Regulatory Report
As seen in Policy & Regulatory Report’s “Capacitor Cartel Probe Heats Up on US Civil, Criminal Sides”
Policy & Regulatory Report says that antitrust enforcement agencies around the world, including the US Department of Justice (DOJ) and Japan’s Fair Trade Commission, may be working together on a probe into cartel activity among companies that make electronic capacitors – cheap and electronic components used in a majority of electronic products.
According to Kaye Scholer Antitrust Counsel Philip Giordano, a former prosecutor in the DOJ’s Antitrust Division, the activities of regulators, such as the recent raid of electronic capacitor manufacturers in Japan, show “the hallmarks of a major international cartel investigation.” Giordano added, “The DOJ and its foreign counterparts are conducting parallel investigations. Many of the manufacturers under investigation are international conglomerates that sell into global markets.”
Giordano noted that the investigation could result in individual and company indictments, as well as hefty fines, although these may be mitigated by the low cost of capacitors. This search could possibly lead to an expanded probe into other passive electronic components, he said.