AU Optronics (AUO) Slapped with $500 Fine for Price Fixing
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A judge in San Francisco sentenced AU Optronics (NYSE: AUO) to a fine of $500 million on Thursday. The fine relates to a price fixing scheme involving LCD screens. The government was seeking a fine of $1 billion following a jury verdict in its favor in March.
The government said executives of AU Optronics secretly met with counterparts from rival panel makers at secretive locations, including karaoke bars, tea rooms, and hotels. There the executives collaborated to fix prices.
AU Optronics said in court filings that it will appeal the verdict.
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The government said executives of AU Optronics secretly met with counterparts from rival panel makers at secretive locations, including karaoke bars, tea rooms, and hotels. There the executives collaborated to fix prices.
AU Optronics said in court filings that it will appeal the verdict.
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