backtop


Print 59 comment(s) - last by overcast.. on Jan 21 at 1:58 PM

Executives involved in the case get fines and prison terms of up to nine months

The LCD industry was rocked by a scandal in late 2008 when executives from some of the largest panel makers in the world pled guilty to conspiring to fix prices. The price fixing led to inflated costs for displays used by firms like Dell in its notebook computers.

In November of 2008, executives from Sharp, LG, and Chunghwa Picture Tubes all pled guilty to price fixing. The largest fine imposed was placed on LG and totaled $400 million with Sharp said to be paying $85 million in fines.

Today reports are coming in that in addition to the fines levied against the corporations; the executives that participated in the scheme are being individually fined and sentenced to prison time here in America.

DigitalTrends reports that the former Chairman and CEO of Chunghwa, Chieng-Hon Lin was hit with an individual fine of $50,000 and a sentence of 9-months in an American prison. The other executives involved in the scandal received prison terms ranging from six to nine months each.

Deborah A. Garza, Acting Assistant Attorney General for Antitrust, said in a statement, "These cases involve the first Taiwanese nationals to face imprisonment in the United States for an antitrust offense. The Department of Justice is committed to holding accountable all conspirators who harm American consumers, no matter where they live or where they commit the crime."



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Regional cable monopolies
By rudy on 1/20/2009 2:00:21 PM , Rating: 5
I agree , it is getting old how countries ignore internal problems and go after foriegn companies to raise cash. Such as EU with M$ and the LCD and Ram cases in the US. Come on we know how they run business in Asia price fixing is probably going on in every industry they monopolize. But at least if we fix the ones that are bases in our country we may create a lasting fix. Where as all that will happen in the LCD case is they will be careful not to keep the records around next year.


RE: Regional cable monopolies
By TheSpaniard on 1/20/2009 10:27:21 PM , Rating: 3
yes the price fixing in pharma is working out great for us...


"This is about the Internet.  Everything on the Internet is encrypted. This is not a BlackBerry-only issue. If they can't deal with the Internet, they should shut it off." -- RIM co-CEO Michael Lazaridis











botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki