Canon and Toshiba on Monday, June 10, agreed to pay US$2.5 million each to settle charges the companies violated US antitrust laws by failing to notify authorities before a deal made for Toshiba’s medical device business.
Faced with accounting irregularities that surfaced in 2015, Toshiba designed a scheme to sell its medical system subsidiary to Canon for around US$6.1 billion in 2016 while evading notification rules, according to a civil complaint filed by the Justice Department.
Under a consent decree, the two companies agreed to create a program for complying with the notification law, known as the Hart-Scott-Rodino Act, and other antitrust laws, the Justice Department stated.
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