Taiwan LCD maker to pay $30 million fine in US case

June 29th, 2010 in Technology / Business

A Taiwanese maker of liquid crystal display panels has agreed to pay a 30-million-dollar fine for its role in a price-fixing conspiracy, the US Justice Department said Tuesday.

Taipei-based HannStar Display Corp. pleaded guilty to participating in a conspiracy between September 2001 and January 2006 to fix the prices of LCD panels, the department said in a statement.

The Justice Department also said HannStar has agreed to cooperate with the ongoing investigation into price-fixing of LCDs, which are used in computer monitors, televisions, mobile phones and other electronic devices.

The plea agreement is subject to the approval of a US District Court in San Francisco.

"The antitrust division has thus far charged seven companies and 17 executives as a result of its investigation into the LCD industry," assistant US attorney general Christine Varney said.

"We are committed to vigorously prosecuting corporations and individuals who engage in this type of price fixing scheme," she said.

The companies charged in the case have agreed to pay fines totaling more than 890 million dollars.

(c) 2010 AFP

"Taiwan LCD maker to pay $30 million fine in US case." June 29th, 2010. http://phys.org/news197049031.html