Wednesday, November 12, 2008

3 Asian LCD Companies Plead Guilty To Price Fixing Scheme - Pay $585 Million Fine

Federal prosecutors in San Francisco announced today that LG Display Co. Ltd., Sharp Corp. and Chunghwa Picture Tubes Ltd. agreed to plead guilty and pay a criminal fine of $585 million for their roles in a price fixing scheme involving liquid crystal display panels. LG, based in South Korea, will pay the largest share of the fine, $400 million. Chunghwa, based in Taiwan, agreed to pay $65 million and Sharp, based in Japan, the remaining $120 million. The price fixing scheme occurred between September 2001 and June 2006, according to prosecutors.

Read the story here and here.

Read the US Attorney's announcement here.

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