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LG Display Co., Ltd. Message Board

  • tinasprettyflowers tinasprettyflowers Jun 14, 2010 1:28 AM Flag

    AUO execs busted 4 price-fixing

    Press release, June 11
    The US Department of Justice has announced an indictment against AU Optronics (AUO), its Houston-based US subsidiary, and six of its executives for participating in a conspiracy to fix prices of TFT-LCD panels.

    The indictment charges AUO in a conspiracy to fix the prices of TFT-LCD panels sold worldwide from September 14, 2001, to December 1, 2006. AUO, its US subsidiary, AU Optronics Corporation America, and six executives, each a resident of Taiwan, participated in the conspiracy at various times during the alleged conspiracy time period.

    By the end of the conspiracy period, the worldwide market for TFT-LCD panels was valued at US$70 billion. Companies directly affected by the LCD price-fixing conspiracy include some of the largest computer and TV manufacturers in the world, including Apple, Dell and Hewlett Packard (HP).

    AUO vice chairman HB Chen participated in the conspiracy from October 19, 2001, to December 1, 2006. CEO and president LJ Chen participated in the conspiracy from February 13, 2003, to November 1, 2005. AUO executive VP and Qisda president and CEO Hsiung participated in the conspiracy from October 19, 2001, to December 1, 2006.

    Leung Shiu Lung, AUO senior manager in the desktop display business group, participated in the conspiracy from May 15, 2002, to December 1, 2006. Bai Borlong, who was the senior manager and director of notebook display business group, participated in the conspiracy from March 20, 2003, to December 1, 2006. Lee Tsannrong, who was the senior manager and director of desktop display and director of notebook display business group, participated in the conspiracy from January 11, 2002, to December 1, 2006, according to the DOJ

    As a result of this ongoing investigation, six companies have pleaded guilty and have been sentenced to pay criminal fines totaling more than US$860 million. Additionally, including today's indictment, 17 executives have been charged to date in the department's ongoing investigation.

 
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