AU Optronics (AUO) Slapped with $500 Fine for Price Fixing
Tweet
Share
E-mailGet Alerts AUO Hot Sheet
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Raymond James sees positive earnings trends across market caps
- Morgan Stanley reports pet food and cat litter sales trends
- Bath & Body Works rises as Citi upgrades stock ahead of earnings
Create E-mail Alert Related Categories
Conference Calls, General NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
