LCD Maker Settles Price Fixing Allegations for $220 Million

Posted 12/10/2009 at 6:38am | by Paul Lilly

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Who knows how much artificially inflated LCD panel pricing ended up costing consumers in the long run, but for Chi Mei Optoelectronics (CMO), the company's alleged involvement in the antitrust case brought on by the U.S. Department of Justice will cost it $220 million, the amount of the plea agreement.

Under terms of the agreement, CMO will pay the fine in installments over a period of five years. In addition to forking over $220 million, the panel maker has also agreed to cooperate with the DOJ's ongoing investigation

Allegations of price fixing in the LCD industry have received a fair amount of attention the past couple of years. In 2008, several LCD makers were charged with artificially inflating panel prices, which ultimately led to LG, Sharp, and Chungwa agreeing to plead guilty and pay a total of $585 million in fines. And more recently, Nokia called shenanigans on Samsung, LG, AU Optronics, and other LCD manufacturers, all of which Nokia is suing for allegedly colluding to fix prices.

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