El-Erian Described Bill Gross as One of World’s Best Investors
El-Erian Described Bill Gross as One of World’s Best Investors
Higher Mortgage Rates are Making Properties Unaffordable
Higher Mortgage Rates are Making Properties Unaffordable
HBO Signs Agreement with Amazon Prime
HBO Signs Agreement with Amazon Prime
Big Pharma Buy Incites U.S. Stocks to Rise
Big Pharma Buy Incites U.S. Stocks to Rise
Job Listings

Executive from AU Optronics Convicted of Price-Fixing Scam

 

On Tuesday, the Justice Department announced that an executive from the Taiwan company of AU Optronics has been found guilty of fixing prices of certain liquid crystal displays. Those displays are used to make the screens of televisions and computer monitors, according to Reuters.

 

The executive, Shiu Lung Leung, was found guilty by a jury. Leung is a former manager in a desktop display unit. Leung was found guilty of taking part in the price-fixing scam that began in the middle of 2002 and ended sometime in 2006.



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


 

AU Optronics was found guilty in September of price-fixing and was fined $500 million for its role in the scam. Two other executives have been sentenced to three years in prison. L.J. Chen, the former AU Chief Executive, was acquitted during the trial and is still a top executive with the company.

 

The earlier convictions will be appealed by the company. The lawyers for AU said that it “competed fiercely” and that the information exchange between companies is not illegal. In the probe, other companies pled guilty, including LG Electronics Inc.

 

LG Electronics did agree to pay $400 million in fines back in 2008 and Samsung Electronics Co Ltd reached an agreement to avoid prosecution. The LCD panel manufactured by AU Optronics is for Dell, Apple and Hewlett Packard.

Did you like this? Share it:
Executive from AU Optronics Convicted of Price-Fixing Scam by

Tagged: , , ,

Posted by on December 19, 2012. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.