AU Optronics Facing $1B Fine in LCD Price Fixing Verdict
A U.S. court found AU Optronics guilty of colluding with other LCD panel makers to fix the price of LCD panels. The price fixing scheme operated between 1999 and 2006. The companies met more than 60 times, often at luxury hotels, and U.S. prosecutors claim the scheme cost U.S. consumers and businesses billions of dollars. Other LCD panel makers, including Samsung and LG Display, pleaded guilty and paid fines to the U.S. years ago. AU Optronics was the only company that maintained its innocence. It plans to appeal the decision. The U.S. said that it faces a minimum fine of approximately $500 million and a maximum fine of $1 billion.