Three LCD companies plead guilty to price-fixing scheme

vbimport

#1

Owned.

Three companies, LG Display, Sharp, and Chunghwa Picture Tubes, must pay $585M in fines, after they plead guilty to doing some naughty things…

http://www.cdfreaks.com/news/15200-Three-LCD-companies-plead-guilty-to-price-fixing-scheme.html

LG has to pay $400M, which is second only to Roche, who had to pay something like $500M for price fixing related to vitamins.

Even though they have to pay a fine, I am sure it’s just a slap on the wrist for them. :disagree:

I wonder if companies would be less likely to do this if there were some mandatory jail sentences handed out, and the fines totaled more than $1B.

Okay, which company is next to be fined?


#2

Microsoft :stuck_out_tongue:
I’ll note that one of the biggest competitors (linux) is also price-fixed :stuck_out_tongue:


#3

[QUOTE=Randomus;2156004]Even though they have to pay a fine, I am sure it’s just a slap on the wrist for them. :disagree:[/QUOTE]

They likely made billions from the price fixing so to them it was an overall good business decision. They are probably meeting next week to do it again on another product.


#4

[QUOTE=UTR;2156084]They likely made billions from the price fixing so to them it was an overall good business decision. They are probably meeting next week to do it again on another product.[/QUOTE] True dat.

I’m actually going to write the Justice Department about this whole thing, but obviously don’t expect a real response. :disagree:

We’ll see how long it takes before this type of thing happens again.


#5

The government gets more money from them and like Microsoft they just pass the cost on to customers.