Samsung, Toshiba, Others Accused of LCD Price-Fixing

GovTechGuy writes "Toshiba, Samsung, Sharp, LG and other major technology companies allegedly colluded to fix the prices of LCD screens used in televisions and computers, according to an antitrust suit filed Friday by New York Attorney General Andrew Cuomo. The complaint alleges that top-level executives at those firms attended secret meetings on a monthly or quarterly basis where they agreed upon minimum prices, price targets, increases and rates to be charged to specific computer manufacturers. The suit also accuses the companies of exchanging product information, agreeing to output levels and keeping prices artificially high by avoiding competition. Cuomo is seeking hundreds of millions of dollars in damages and punitive charges for the alleged overcharging of state institutions."

Comments

libertarians, free market fundamentalists, and

[circletimessquare]

other assorted tea party morons:

you need a powerful government to regulate the market and keep it fair. left on its own, the market is abused by its largest players. point of economic historical fact

wake the fuck up from your idealistic idiocies please