The news you're not supposed to know...

Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
Article posted Jul 01 2010, 11:52 PM Category: Economy Source: ComputerworldUK Print

LCD maker pleads guilty to display price fixing

Taiwanese firm HannStar to pay $30m to US authorities
By Grant Gross

What a joke, just because a company (or group of companies) says they're going to charge so and so a price doesn't mean consumers need to buy it. It's not like an LCD is some essential good which every growing child needs to survive. If the people thought the prices were too high they wouldn't buy them, it's that simple. The same can't be said for the "products" and "services" government produces. - ChrisHannStar Display, a Taiwanese maker of liquid crystal displays (LCDs), has agreed to plead guilty and pay a $30 million fine for participating in a global conspiracy to fix prices of the displays, the US Department of Justice said.

HannStar, based in Taipei, participated in a price fixing conspiracy involving thin-film transistor liquid crystal displays (TFT-LCDs) between September 2001 and January 2006, the DOJ said in a one-count felony charge filed Tuesday in US District Court for the Northern District of California. HannStar, in a plea agreement, has agreed to cooperate with the DOJ's ongoing price fixing investigation.

The DOJ has charged seven companies and 17 executives in the price-fixing investigation since late 2008. "We are committed to vigorously prosecuting corporations and individuals who engage in this type of price fixing scheme," Christine Varney, assistant attorney general in charge of the DOJ's Antitrust Division, said in a statement.

HannStar did not immediately respond to a request for comment on the guilty plea.

TFT-LCD panels are used in computer monitors and laptops, television sets, mobile phones and other electronic devices. The worldwide market for TFT-LCDs was $70 billion a year by the end of the conspiracy, the DOJ said. Companies affected by the price-fixing scheme were some of the largest computer and television manufacturers in the world, including Apple, Dell and Hewlett-Packard, the agency said.

HannStar participated in meetings and other communications with competitors during which the companies agreed to set the prices of LCD panels, the DOJ said. HannStar exchanged sales information with competitors in an effort to monitor and enforce the agreed-upon prices, the agency said.

HannStar is charged with price fixing in violation of the Sherman Act, which can carry a fine of $100 million for corporations, although the fine can be increased to twice the gain derived from the crime or twice the loss suffered by victims.

The seven companies charged in the price fixing conspiracy have agreed or have been sentenced to pay fines of more than $930 million.

Latest Economy
- Good News: Law Schools In Decline, Bar Passage Rates Plummeting
- Singapore: The Power of Economic Freedom
- Schiff: The Shadow Rate Casts Gloom
- Neil Cavuto Embarrasses Student Who Wants Free College and Has No Idea How to Pay For It
- Pocketbook Pain: The Rapidly Rising Cost of Living Is Absolutely Killing The Middle Class in America
- The Three Industries That Love The TPP: Hollywood, Big Pharma & Wall St.
- Sexist Markets - 77 Cents On The Dollar?
- Former Reagan Administration Official Warns That Financial Disaster Is Dead Ahead

No Comments Posted Add Comment

Add Comment


Verification *
Please Enter the Verification Code Seen Below

Please see our About Page, our Disclaimer, and our Comments Policy.

This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy

Advanced Search


Remember Me
Forgot Password?

Donald Sutherland Reveals The Real Meaning Of The Hunger Games - 11/27Drone Pilots Have Bank Accounts and Credit Cards Frozen by Feds For Exposing US Murder - 11/27Pot Breathalyzers: Coming Soon to A Drug War Near You - 11/27Georgia Sheriff Puts Up Sign Warning People Who Disagree With Him About God to Leave - 11/27World's Most 'Adorable' Drug Kingpin Is Actually The Daughter of Texas DEA Head Honcho - 11/26City Settles After Police Chief Arrested Man For Calling Public Official A 'Liar' - 11/27Bezos Beats Musk - 11/27Heroic Cops Protect Community by Raiding a Group of 90-Yo Women Playing Mahjong - 11/26

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up