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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.'"

4 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.

  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.

  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?