Toshiba Corp. and Canon Inc. agreed to pay to pay $2.5 million each to settle charges the companies violated U.S. antitrust laws by failing to notify authorities before a deal made for Toshiba’s medical device business. Toshiba Corp. and Canon Inc. agreed to pay to pay $2.5 million each to settle charges the companies violated U.S. antitrust laws by failing to notify authorities before a deal made for Toshiba’s medical device business. Photo: kazuhiro nogi/Agence France-Presse/Getty ImagesCanon Inc. and Toshiba Corp. on Monday agreed to pay $2.5 million each to settle charges the companies violated U.S. 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 $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 said.

Source: Wall Street Journal June 11, 2019 00:06 UTC