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LG, AUO, Toshiba Cough Up Fines to Settle Price-Fixing Case LG, AUO, Toshiba Cough Up Fines to Settle Price-Fixing Case
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LG, AUO, Toshiba Cough Up Fines to Settle Price-Fixing Case
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Old 13th July 2012, 08:55   #1
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Default LG, AUO, Toshiba Cough Up Fines to Settle Price-Fixing Case

Fence-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.
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