1 post in this topic

Posted

NEW YORK (CNNMoney) -- A Taiwanese LCD screen maker was hit Thursday with a $500 million fine for price-fixing, a penalty that tied for the largest ever in an American antitrust case.

A federal judge in San Francisco levied the fine against Taiwan's AU Optronics Corporation for its participation in a conspiracy with other companies to fix LCD prices. In addition, two former AU Optronics executives -- ex-president Hsuan Bin Chen and former executive vice president Hui Hsiung -- received three-year prison terms.

"This long-running price-fixing conspiracy resulted in every family, school, business, charity and government agency who bought notebook computers, computer monitors and LCD televisions during the conspiracy [paying] more for these products," the Justice Department's Scott Hammond said in a statement.

AU Optronics said it "regrets" the judgment and plans to lodge an appeal.

The ruling is the latest development in a long-running legal battle focusing on the years between 1999 and 2006, during which a group of Asian manufacturers and their U.S. affiliates conspired to artificially inflate LCD prices, prosecutors say.

more

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0

  • Recently Browsing   0 members

    No registered users viewing this page.