Thursday, July 12th 2012

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.

Source: Reuters
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8 Comments on LG, AUO, Toshiba Cough Up Fines to Settle Price-Fixing Case

#1
jmcslob
WAIT! WTF!
My Govt and states sue over price fixing of LCD panels but not over Life saving Medicines?!

I hate this fucking Country!!!!!
This isn't the USA I grew up in.
Posted on Reply
#2
tacosRcool
by: jmcslob
WAIT! WTF!
My Govt and states sue over price fixing of LCD panels but not over Life saving Medicines?!

I hate this fucking Country!!!!!
This isn't the USA I grew up in.
Why don't you leave then? Even though I don't like the clowns running this country, I'm proud to be American.
Posted on Reply
#3
fullinfusion
1.21 Gigawatts
by: tacosRcool
Why don't you leave then?
Yup thats the American way! :slap:

anyways good to see some of the big names being caught and having to cough up some cash!
Posted on Reply
#4
Completely Bonkers
OK, so every flat-screen TV early adopter was overcharged. Do they get a refund, or does Uncle Sam get another $500m to buy cheap competitively priced internationally sourced military hardware to use in the Middle East theatres? ;)
Posted on Reply
#5
HossHuge
by: tacosRcool
Why don't you leave then? Even though I don't like the clowns running this country, I'm proud to be American.
Or, how about staying in the country and trying to make it a better place to live?:rolleyes:
Posted on Reply
#6
sergionography
by: tacosRcool
Why don't you leave then? Even though I don't like the clowns running this country, I'm proud to be American.
so freaking ignorant, this attitude is the reason this country cant get back on its feet
because you are blind with pride of being "American" instead of facing problems like a man and fix them

as for this sueing shiz thats so freaking stupid, politicians just collecting some1 elses money for more summer vacations, and taking money from were its least significant
lcds arent even expensive, tvs and monitors have only been getting cheaper and cheaper

so thank you so much for being worried about us paying too much money, your compassion is very much appreciated, except for the 20% tax you slap off every one of my paychecks, and that 10% tax whenever i spend a penny, as well as home taxes, and school taxes. and the gazillion other taxes that went up the roof after 911(all for our security remember?) and all this to only end up in a worst economy than ever

yes the government is clearly worried about you and me
and is sucking the life out of you while u sit and cheer for it
Posted on Reply
#7
Crap Daddy
It's not only America. It's the whole ***** world. Everything is fixed starting with Libor, oil and finishing with the toothpaste in your favorite supermarket. Supply and demand? An old joke.
Posted on Reply
#8
AsRock
TPU addict
Aint it just dandy to be alive these days..
Posted on Reply