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@ 2012/07/13Fence-sitters in the massive LCD panel price-fixing case, LG, AUOptronics, and Toshiba, finally agreed to pay their share of fines to settle. The three combined will pay US $571 million in fines, according to an attorney for the plaintiffs. The amount includes US $27.5 million in civil penalties for eight state governments (Arkansas, California, Florida, Michigan, Missouri, New York, West Virginia and Wisconsin).
In late-December 2011, the first set of fines were collected from LCD panel majors Samsung, Sharp, Hitachi, HannStar, and Chimei Innolux; who cumulatively paid US $553 million in the price-fixing case, as LG, AUO, and Toshiba abstained. AUOptronics was faced with the prospect of having to pay fines as high as US $1 billion. The case involves alleged price-fixing and cartel behavior by LCD panel makers in the period between 1996 and 2006, which stunted LCD panel development, and overpriced products to the consumers, by stifling competition.
In late-December 2011, the first set of fines were collected from LCD panel majors Samsung, Sharp, Hitachi, HannStar, and Chimei Innolux; who cumulatively paid US $553 million in the price-fixing case, as LG, AUO, and Toshiba abstained. AUOptronics was faced with the prospect of having to pay fines as high as US $1 billion. The case involves alleged price-fixing and cartel behavior by LCD panel makers in the period between 1996 and 2006, which stunted LCD panel development, and overpriced products to the consumers, by stifling competition.
