Panasonic Embraco To Pay $140.9 Million In Fine

The US Department of Justice has ordered Panasonic Corporation PC and Whirlpool Corp's WHR Embraco North America Inc. to pay fines of $140.9 million for price fixing. The two companies are guilty of trying to fix the price of refrigerant compressors. Both companies have agreed to cooperate with the Justice Department in the ongoing investigation. According to the department, PC will pay $49.1 million in criminal fine and WHR's Embraco will pay $91.8 million. Shares of PC lost 0.95% to $13.54, while WHR's shares dipped 0.45% to $80.39 at at 12:48 pm. Read more from Benzinga's Company news.