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




An Introduction to Austrian Economics: Understand Economics, Understand Everything
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
(more)
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
- American Ranking Plummets in Global Index of 'Personal Freedoms'
- Your "Children Will Be Fined" If You Fail To Sign Up For Obamacare: People Are Going To Be In for A Shock
- The End of QE Is Not the End of Bad Policy
- "They Just Want The Money!" - The IRS Can Now Seize Accounts On Suspicion Alone
- Hillary: 'Don't Let Anybody Tell You' That 'Businesses Create Jobs'
- Does Ebola Justify the State?
- Low Inflation? The Price Of Ground Beef Has Risen 17 Percent Over The Past Year
- EFF, Internet Archive, and reddit Oppose New York's BitLicense Proposal









No Comments Posted Add Comment


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


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


FAIR USE NOTICE
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
Username:

Password:

Remember Me
Forgot Password?
Register

This is What a High School Football Game Looks Like In a Police State - 11/21No Charges For Cop Filmed Breaking Man's Face For Failure To ID, "Shoulder Thrust" Made Cop Fear For His Safety - 11/21Very Large Cop Waylays High School Girl, Chaos Ensues After Students Become Angry at the Deputy - 11/21Casino Can Steal NJ Man's Home Through Eminent Domain For No Specific Reason, Judge Rules - 11/20Washington Cop Attempts to Incite Photographer by Invading Personal Space - 11/21Man Imprisoned For Decades On False Child Molestation Charge Freed After Claim Recanted - 11/21Texas Cop Indicted For Stealing Cash Out Of People's Wallets After Asking For ID - 11/20Deputy Tries Using Civil Asset Forfeiture On DVD From Convenience Store, Loses Job - 11/20

Rialto, CA Police Made to Wear Cameras, Use of Force Drops by Over Two-ThirdsCop Who Karate Chopped NY Judge In Throat Gets Off Scot-FreeFlorida Cop Smashes Compliant Woman's Face Into Car -- "Maybe Now You Can Understand Simple Instructions"VIDEO: Lapel Cam Reveals A Day In The Life Of A U.S. Police Officer (Tasing, Beating, Breaking & Entering, Stomping On Heads... and Laughing About It)Caught On Tape: Officer Sucker Punches Inmate In Face, Files Report Claiming 'Self Defense'Insult Person On Twitter, Go To JailSWAT Team Brings TV Crew To Film Raid Against Threatening Internet Critic -- Raids Innocent Grandma InsteadCop Karate Chops NY Judge In The Throat
(more)

 
Top