Legal News

In Mysterious Move, FBI Raids Toyota Suppliers

By Ashby Jones

When it rains, it pours.

It seems that for years, everything Toyota touched turned to gold. And now, we’d forgive Toyota brass for feeling like they just can’t catch a break. As we watch Toyota’s president, Akio Toyoda, get grilled by a House committee, we get word that the FBI has raided three Michigan auto suppliers that make parts for Toyota vehicles.

For now, the details are a little hazy on the FBI raid. But an FBI spokeswoman said that on Tuesday search warrants were carried out on Yazaki North America in Canton, Denso International America, in Southfield and Tokai Rika, also known as Tram, in Plymouth. She wouldn’t confirm the purpose of the investigation. That said, Denso confirmed it was inspected by the FBI and said the investigation was based on allegations of violations of antitrust laws. Click here for the WSJ story, by Dionne Searcey and Jeff Bennett.

Yazaki supplies several electronic components while Denso makes a variety of parts including accelerator pedals Toyota has used in its vehicles. Those pedals were not involved in the recent recalls of Toyota vehicles based on complaints of unintended acceleration.

Denso said it was cooperating with the investigation. The other two companies could not be reached immediately for comment.

A spokeswoman for Toyota did not immediately return a call for comment nor did the U.S. Attorney’s office in the Eastern District of Michigan.

We’ll keep you posted on this as news warrants.

Full post as published by Law Blog - WSJ.com on February 24, 2010 (boomark / email).