Slashdot Mirror

← Back to Stories (view on slashdot.org)

Hitachi Fined $31 Million For LCD Price Fixing

Posted by samzenpus on from the pay-up dept.

MojoKid writes "The Japanese electronics manufacturer has just agreed to pay a staggering $31 million fine for its role in a conspiracy to fix prices in the sale of TFT-LCD panels sold to Dell, Inc. The United States Department of Justice made the proclamation, and details show that Hitachi has plead guilty to a one-count felony. The charge, which was filed in the U.S. District Court in San Francisco, blames Hitachi Displays Ltd., a subsidiary of Hitachi Ltd., with 'participating in a conspiracy to fix the prices of TFT-LCD sold to Dell for use in desktop monitors and notebook computers from April 1, 2001 through March 31, 2004.'"

8 of 135 comments (clear)

  1. How Much? by Rik+Rohl · · Score: 5, Insightful

    did they make more than $31 mil profit by fixing the prices? If they did then they got away with it.

    1. Re:How Much? by justsomecomputerguy · · Score: 3, Insightful

      Exactly! It's not like this is going to hurt their reputation in any significant way, so the fines HAVE to be higher than the illicit profits for them to have any real teeth.

  2. Pay $31M, Made $300M by cc_pirate · · Score: 5, Insightful

    Once again a corporation is allowed to steal and not pay back what it stole...

    While an individual would have to pay every DIME back and then pay a penalty on TOP of that...

    Pathetic

    --

    "There are laws that enslave men, and laws that set them free. " - Sean Connery as King Arthur

    1. Re:Pay $31M, Made $300M by Idiomatick · · Score: 4, Insightful

      To be fair companies are people. Punitive charges don't make as much sense. Charging the people who made the decisions punitive amounts does and I believe they have/will do so. Hurting a company of thousands of employees for the actions of 2~3 people is pretty pointless. The people that made the decision will be replaced so it doesn't matter.

    2. Re:Pay $31M, Made $300M by muszek · · Score: 3, Insightful

      If the worst that can happen to our company is giving back what we stole, we're gonna do the naughty thing.

    3. Re:Pay $31M, Made $300M by Afforess · · Score: 3, Insightful

      The best part, the new LCD screens will cost more because they have to cover "court costs." It's a lose-lose situation for consumers.

      --
      If our elected representatives no longer represent us, do we still live in a Democracy?
  3. Agreed by LingNoi · · Score: 4, Insightful

    The Japanese electronics manufacturer has just agreed to pay....

    How come when companies break the law they get to "agree" on the punishment?

  4. Re:Who gets the $31 million? by LoverOfJoy · · Score: 3, Insightful

    Don't worry. The $31 million will just barely cover the costs of the lawyers. The government won't see a dime.