Thursday, November 13, 2008

LG, Sharp, Chunghwa Fined For Price-Fixing

TWICE: LG, Sharp, Chunghwa Fined $585M For LCD Price Fixing

More details are in concerning the $585 million in criminal fines being levied against LG Display, Sharp and Chunghwa Picture Tubes by the Department of Justice's (DOJ) antitrust division for LCD panel price fixing.
In a release by the DOJ the three companies have agreed to pay the fines for their roles in conspiracies to fix prices in the sale of LCD panels. Of the $585 million in fines, LG Display will pay $400 million, the second highest criminal fine ever imposed by the department’s antitrust division.

Not to underplay the seriousness of the allegations, but's good to know that the US DOJ doesn't have any other pressing issues to devote their resources to.

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