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PriceFixing posts

Three more executives indicted in LCD price fixing scheme

by Richard Lawler posted Feb 4th 2009 at 10:26AM

Protip, if you were involved in LCD price fixing between 2001 - 2006, just turn yourself in because the U.S. Department of Justice is still coming. To the surprise of anyone who thought the last couple months of guilty pleas and fines were the end, a DOJ statement today spells out indictments returned by a federal grand jury in San Francisco against two former Chungwha Picture Tube execs and one from LG Display. All the legal details in the case against Cheng Yuan Lin, Wen Jun Cheng and Duk Mo Koo are in the statement beyond the read link, but hey man, we're still waiting on our refunds.

[Via Reuters]

LG, Chunghwa Picture Tubes execs to serve jail time for LCD price fixing conspiracy

by Darren Murph posted Jan 20th 2009 at 5:05AM


LG and Chunghwa Picture Tubes already confessed to being involved in a scandalous LCD price fixing conspiracy, and now the US Department of Justice is laying down the hammer on four of the dirty-handed executives. Chang Suk Chung (LG), Chieng-Hon "Frank" Lin (Chunghwa), Chih-Chun "C.C." Liu (Chunghwa) and Hsueh-Lung "Brian" Lee (Chunghwa) have all entered plea agreements which will see them serving a "term of imprisonment" as well as paying a criminal fine and assisting the US government in its ongoing TFT-LCD investigation. 'Course, those pleas must all be approved by the court, but it's pretty safe to say these fellows will be spending a least a moment or two behind steel bars. Fun, fun.

[Via DigitalTrends]

Sharp, LG to pay big fines for LCD price fixing

by Darren Murph posted Dec 18th 2008 at 8:20PM

There may have been a long shot in Hades that Sharp and LG would navigate their way out of paying a full $120 million / $400 million fine for their respective roles in a recent LCD price fixing bust, but that shot has apparently failed. It was announced this week that both firms would indeed be sentenced to pay the full fine "for their role in a price-fixing scheme that forced millions of US consumers to overpay for gadgets using liquid-crystal displays." The other culprit, Taiwan's Chunghwa Picture Tubes, has already agreed to plead guilty to criminal charges and will be sentenced in January. Happy holidays, huh?

LG, Sharp plead guilty to LCD price-fixing, take $585m fine

by Nilay Patel posted Nov 12th 2008 at 3:37PM

Allegations of LCD price-fixing have been swirling around for years now, and it looks like at least some of the companies involved have dirt on their hands -- LG, Sharp and Chunghwa Picture Tubes have all just pled guilty to price-fixing in a case filed by the US Department of Justice and will pay a combined $585m fine. LG's taking the biggest hit at $400m for conspiring to fix prices from September 2001 to June 2006, while Sharp's on the hook for $120m for jacking prices on panels sold to Dell, Motorola and Apple during the same time frame. Naughty, naughty. It also sounds like this plea agreement is more than just a sterile attempt to cut losses -- Sharp's exec staff is taking a 10 to 30 percent pay cut for three months as punishment to reassure its shareholders. Sounds like a plan -- how about refunding some of that cash to us chumps out here buying your overpriced products?




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