In the latest development in the US government’s massive investigation into price-fixing in the electronics industry, Taipei-based HannStar Display Corp (瀚宇彩晶) has agreed to pay a US$30 million fine.
The fine is part of a plea agreement that must still be approved by a US District Court in San Francisco.
HannStar had pleaded guilty to joining a conspiracy between September 2001 and January 2006 to fix the prices of LCD panels, which are used in computer monitors, televisions, mobile phones and other electronic devices.
A statement from the US Department of Justice said HannStar had also agreed to cooperate with the ongoing investigation.
“After consulting with our lawyers, the company has decided to plead guilty, leaving the legal hassle behind,” company spokesman Arthur Lu (呂清平) told the Central News Agency.
“The company has assigned a provision of US$50 million to pay related litigation costs since 2009,” Lu said.
“We expect the US$30 million payment will not have any impact on operations,” Lu said.
So far, seven firms charged in the case — from Taiwan, Japan and South Korea — have agreed to pay a total of US$890 million in fines, the justice department said.
“The antitrust division has thus far charged seven companies and 17 executives as a result of its investigation into the LCD industry,” Assistant US Attorney General Christine Varney said. “We are committed to vigorously prosecuting corporations and individuals who engage in this type of price fixing scheme.”
ADDITIONAL REPORTING BY CNA
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