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|17th January 2009, 14:37||#1|
Join Date: May 2002
Asian Executives Face Jail in US for Fixing LCD Prices
Four current and former executives from LG Display in South Korea and from Chunghwa Picture Tubes in Taiwan have agreed to plead guilty and serve jail terms in the U.S. for participating in a conspiracy to fix prices in the sale of TFT-LCD (Thin Film Transistor-Liquid Crystal Display) panels, according to the U.S. Department of Justice (DOJ).
They are the first to plead guilty to a charge of fixing prices in the active investigations into anti-trust violations in the TFT-LCD industry, the DOJ said Thursday.
The four executives are charged with price fixing in violation of the Sherman Act, which carries a maximum fine of US$1 million and up to 10 years in prison for an individual.
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