Lear Cooperates With EC Price-Fixing Probe - TheStreet

SOUTHFIELD. Mich. (

TheStreet

) --

Lear

(LEA) - Get Report

says it has been notified it is part of an investigation by the European commission into anti-competitive practices among automotive electrical and electronic component suppliers.

Lear said the commission has stated the investigation doesn't mean the companies involved are guilty of anticompetitive behavior.

"Lear is cooperating fully with the European Commission in their investigation, and I am confident that our company is not involved in any anti-competitive practices," said Bob Rossiter, Lear's chairman and CEO, in a statement.

The

Wall Street Journal

reports that an international probe into auto-parts makers over alleged price-fixing and other antitrust issues beefed up Thursday as more companies confirmed raids by authorities.

In addition to Lear, German car-parts maker

Leoni

was visited by European Commission investigators, the

Journal

reports, while the Federal Bureau of Investigation earlier this week visited the U.S. offices of three Japanese parts makers.

Lear shares fell 40 cents, or 0.6%, in after-hours trading Thursday to $68.50 after ending the regular session down 61 cents.

-- Reported by Joseph Woelfel in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.