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Feds seeking $1 billion from price-fixing LCD maker

Written by Andre Yoskowitz (Google+) @ 12 Sep 2012 23:40 User comments (1)

Feds seeking $1 billion from price-fixing LCD maker The U.S. Department of Justice is seeking $1 billion from Taiwanese display maker AU Optronics, which has been convicted of price fixing in the LCD market.
AUO, along with six other manufacturers, were found guilty in March of price-fixing in the market and being a "cartel."

So far, the other LCD makers have paid a combined $860 million in fines.

Additionally, the DOJ is demanding 10-year jail sentences for two executives of the company, Hsuan Bin Chen and Hui Hsiung, both of which have been found guilty of allowing the scheme.

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1 user comment

113.9.2012 15:26

Quote:
Additionally, the DOJ is demanding 10-year jail sentences for two executives of the company, Hsuan Bin Chen and Hui Hsiung, both of which have been found guilty of allowing the scheme.
Yet no charges have been brought against the Wall Street executives that played fast and loose with our economy.

Looks like Mr. Hsuan Bin Chen and Mr. Hui Hsiung didn't grease the right palms on their ascension to power.

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