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Taiwan co. fined $500 million for LCD price fixing
In July, the company, along with Toshiba and LG, agreed to pay a combined $571 million to settle one of the lawsuits. Other manufactures, including Hitachi, Sharp and Samsung, agreed in December to pay $538 million to settle.
Seven other Asian manufacturers and 22 of their executives have previously pleaded guilty and agreed to pay a combined $890 million in fines. The 10 executives who have been sentenced so far received prison terms ranging from six months to a little more than year in prison.
The $1.39 billion in criminal fines won in court make the LCD screen price fixing case the largest criminal antitrust case ever prosecuted by the DOJ, surpassing the breakup of a vitamin cartel in the late 1990’s that netted $875 million in criminal fines.
To date, F. Hoffmann-La Roche Ltd.’s $500 million fine for participating in the vitamin price-fixing scheme remains the largest antitrust fine. The DOJ’s annual collection of antitrust criminal fines only topped $1 billion once in the past 10 years, according to a report compiled by the law firm Gibson Dunn.
A jury found AU Optronics, Chen, its former president, and former executive vice president Hsiung guilty and acquitted two others. The jury couldn’t agree on a verdict for a fifth executive, and prosecutors dropped charges. Chen remains a vice chairman of the company’s Board of Directors. Both men were allowed to go free and ordered to report to prison on Dec. 20
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