You are currently viewing the printable version of this article, to return to the normal page, please click here.

Feds demand LCD maker pay $1 billion

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

SAN FRANCISCO (AP) - Federal prosecutors are seeking harsh sentences against a Taiwan company and two of its former executives, saying they participated in the most significant price-fixing "cartel" ever prosecuted in the United States.

The U.S. Department of Justice on Tuesday demanded AU Optronics Corp. pay $1 billion and the two former executives each serve 10-year prison sentences for illegally fixing computer screen prices.

The company's lawyers are arguing for a fine of no more than $285 million and significantly lighter, but undefined, prison terms for the executives.

A federal jury in March found the company, along with Hsuan Bin Chen and Hui Hsiung, guilty of price fixing.

Six other Asian LCD screen makers have paid a combined $860 million in fines after pleading guilty.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments
blog comments powered by Disqus
TWT Video Picks