HannStar Pleads Guilty To LCD Price Fixing

Taiwan-based LCD screen maker HannStar Display has pleaded guilty to fixing the prices of monitors that use TFT-LCD technology.

The US Department of Justice said that the company had pleaded guilty to the charge and has agreed to a pay a fine of $30 million for its participation in a global cartel that ran from September 2001 to January 2006.

The company has also agreed to cooperate with the Department of Justice throughout the rest of the investigation.

HannStar spokesperson Arthur Lu said: "After consulting with our lawyers, the company has decided to plead guilty, leaving the legal hassle behind. The company has assigned a provision of US $50 million to pay related litigation costs since 2009. We expect the US$30 million payment will not have any impact on operations."

The Department Of Justice has said that HannStar and seven other companies, have been ordered to pay fines totalling $930 million.

In a statement, Christine Varney, the assistant attorney general heading DOJ's anti-trust division, said: “We are committed to vigorously prosecuting corporations and individuals who engage in this type of price-fixing scheme.”