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Worldwide LCD price-fixing conspiracy: Another exec guilty
AU Optronics manager traded info 'in karaoke bars'
An AU Optronics executive has been found guilty of fixing the price of LCD displays by a US District Court in San Francisco.
The US Justice Department said that a jury found Shiu Lung Leung, a former senior manager in the Desktop Display Business Group, guilty of participating in the worldwide LCD price-fixing conspiracy that ran between May 2002 and December 2006.
According to the DoJ statement:
The conspirators fixed the prices of LCD panels during monthly meetings with their competitors, which were secretly held in hotel conference rooms, karaoke bars and tea rooms around Taiwan.
Leung, along with previously convicted companies and former execs, fixed the prices during monthly meetings, secretly held in hotel conference rooms, karaoke bars and tea rooms around Taiwan, the Justice Department said.
“This international price-fixing conspiracy impacted countless American consumers by raising the price of computer monitors, notebooks and televisions containing LCD panels,” said Scott Hammond, deputy assistant attorney general of the Antitrust Division’s criminal enforcement program.
“Today’s guilty verdict demonstrates that the Antitrust Division will continue to hold executives accountable for crimes that undermine a competitive marketplace.”
Two executives who were previously found guilty were sentenced to three years in prison. ®