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Hitachi Officially Fesses, Ends Price-Fixing Case

Posted 03/12/09 at 02:38:37 PM  by Paul Lilly

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Japan-based electronics firm Hitachi Displays Ltd. has plead guilty to price fixing charges on the sale of LCD panels and has agreed to pay $31 million as part of its deal with the U.S. Justice Department.

"The case should send a strong message to multinational companies operating in the United States that when it comes to enforcing the U.S. antitrust laws we mean business," Acting Assistant Attorney General Scot Hammond said in a statement.

Hitachi, who admitted to fixing prices on screens sold to Dell for use in desktop monitors and notebook displays from 2001 to 2004, isn't the only display maker to be accused of price fixing. LG, Sharp, and Chungwha Picture Tubes all struck similar plea agreements last year, with LG having agreed to pay a $400 million fine for panels sold between 2001 and 2006. All tallied, the U.S. government will have garnered over $600 million in criminal fines from LCD price fixing.

Image Credit: Gizmodo

COMMENTS:8
TAGS: lcd, display, hitachi, legal, law, court, business, price fixing
COMMENTS
avatarWhat I want to know is: 

Submitted by Jox on Thu, 03/12/2009 - 6:04pm

What I want to know is:  When can I expect some reasonably priced LCD's in retail stores?  I plan to buy an LCD TV this year and I want to know I'm getting the best deal I can.

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avatarWow

Submitted by Geeksquadmyss on Thu, 03/12/2009 - 3:18pm

I didnt realize everyone was an english teacher on here, get over the typos, morons it happens...  Anyway what i want to know is were doe this money that the US has got from these companies go? i mean if i got screwed and paid too much money, because i got ripped off by an LCD maker why dont i get the money and not the government?  And where does it all go?

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avatarARRG!!!!

Submitted by mojosico on Thu, 03/12/2009 - 2:01pm

corparate greed strikes again and the big companys wonder why we are in a recession . HELLLOO!!!! corparate greed is taking the world into a global recession on the express train . are we having fun yet

 

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avatartypo

Submitted by gsxrmike04 on Thu, 03/12/2009 - 11:36am

who the hell cares about the typo a good chance that effected some of us that bought lcds from these companys !!

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avatarTrue, probably affected

Submitted by AntiHero on Thu, 03/12/2009 - 12:29pm

True, probably affected most of us, also, the typo, is just that, a typo. Humans type this, you make mistakes too.

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avatarTypo

Submitted by mwinfie on Thu, 03/12/2009 - 11:11am

the U.S. government will have garnered over $600 in criminal fines from LCD price fixing.

 I think you mean $600 million.

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avataralso....

Submitted by nekollx on Thu, 03/12/2009 - 11:12am

"it come sto enforcing"

 

Come Sto?

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avataronly six hundred dolloars in

Submitted by nekollx on Thu, 03/12/2009 - 11:08am

only six hundred dolloars in fines collected?

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