Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
THURSDAY, 24 APR 2014
09:08 AM Beirut time
Weather    
Beirut
17 °C
Blom Index
BLOM
1,214.01down
International
Follow this story Print RSS Feed ePaper share this
Taiwan LCD titan fined $500 mn for price fixing
Agence France Presse
A+ A-

SAN FRANCISCO: A US judge on Thursday fined Taiwan's AU Optronics 500 million dollars and sentenced two former executives to prison for rigging prices of displays for smartphones, computers and other gadgets.

"This was a documented and far-reaching conspiracy; there is no doubt about that," US District Court Judge Susan Illston said while sentencing Taiwan's largest LCD maker and Hsuan Ben Chen and Hui Hsiung.

She ordered one-time AU Optronics president Chen and former executive vice president Hsiung to each serve three years in federal prison and pay $200,000 in fines.

A jury trial in San Francisco ended in March with a jury convicting AU Optronics and the men of taking part in a scheme to rig prices of thin film transistor liquid crystal (TFT-LCD) display panels from late 2001 to December in 2006.

Prosecutors went on record in court calling it the "most serious price-fixing" case in US history and urged Illston to slam AUO with an unprecedented billion-dollar fine and imprison both men for a decade.

"We believe a $500 million fine is unable to deter the kind of conduct we see here," Department of Justice antitrust division trial attorney Heather Tewksbury argued during the sentencing hearing.

Defense attorneys countered that the prosecution's recommendation was "excessive."

Officials said the $500 million fine matches the largest fine imposed against a company for violating the US antitrust laws.

 
Home International
 
     
 
United States of America
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Wednesday, April 23, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Israel shows Zionism’s true colors
Michael Young
Michael Young
For Christians, blessed are the dividers
David Ignatius
David Ignatius
An Iran deal is close, but we’re not there yet
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS