Seven Companies Found Guilty of Price Fixing LCD Displays

Written by John Ponio    Wednesday, 28 December 2011 17:30

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Recently a group of seven companies were found guilty of price fixing LCD displays. Chi Mei Innolux Corporation, Chunghwa Picture Tubes Ltd., Epson Imaging Devices Corporation, HannStar Display Corporation, Hitachi Displays, Ltd., and Samsung Electronics Co., Ltd., and Sharp Corporation have agreed to pay over $538 million in fines and other such antitrust settlements, and five of those companies will separately pay $14 million for more state and local fines. It seems the price fixing was just in New York, and the people affected by this scheme will be given restitution. Attorney General Schneiderman said, "This price-fixing scheme manipulated the playing field for businesses that abide by the rules, and left consumers to pay artificially higher costs for televisions, computers and other electronics. Protecting the integrity of the marketplace is the only way to ensure the best outcome for New York’s consumers. That is why my office will aggressively police anti-competitive practices and hold accountable those who violate the law." You can read the press release here.