LCD price fixing investigation reaches $860 million in total fines, Chi Mei latest to

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http://www.blogcdn.com/www.engadget.com/media/2009/12/14dec9iyv234ra.jpg (http://www.justice.gov/atr/public/press_releases/2009/252936.htm)It's not every day we get to cite an official US Department of Justice news release, so it's with a certain glee that we can announce the US taxpayer was last week enriched by another $220 million courtesy of the not-so-fine folks who swindled him out of that money in the first place. Joining the ignominious ranks of LG, Sharp (http://www.engadget.com/2008/11/12/lg-sharp-plead-guilty-to-lcd-price-fixing-take-585m-fine/), Hitachi (http://www.engadget.com/2009/03/10/hitachi-also-admits-to-lcd-price-fixing-will-pay-31m-fine/) and Chungwa Picture Tube (http://www.engadget.com/2009/02/04/three-more-executives-indicted-in-lcd-price-fixing-scheme/), Taiwanese manufacturer Chi Mei is refunding the US state for the pecuniary impact of its collusive practices, which were primarily related to keeping prices artificially high and profits proportionately inflated. US companies directly affected by these ignoble activities include HP, Dell and Apple, but don't you worry, AT&T has already started (http://mobile.engadget.com/2009/10/21/atandt-sues-lg-samsung-others-alleging-lcd-price-fixing-conspir/) the inter-corporation scuffle, with Nokia piling on (http://www.engadget.com/2009/12/01/nokia-sues-lcd-manufacturers-for-alleged-price-fixing/) for good measure. Man, it almost seems like crime doesn't pay.LCD price fixing investigation reaches $860 million in total fines, Chi Mei latest to 'fess up (http://www.engadget.com/2009/12/14/lcd-price-fixing-investigation-reaches-860-million-in-total-fin/) originally appeared on Engadget (http://www.engadget.com) on Mon, 14 Dec 2009 09:03:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).


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