Hitachi LG Data Storage to Pay 21 Million in Antitrust Lawsuit

Hitachi LG Data Storage has finally agreed to plead guilty over charges brought regarding fixing prices and rigging bids for sales of optical disk drives.

The company also agreed to pay US$21.1 million as compensation, according to a revelation made by the U.S Department of Justice (DoJ) on Friday.

Hitachi LG Data storage is joint venture between LG Electronics and Hitachi. According to allegations brought against it, the company indulged in fixing prices on the drives it had sold to Windows maker Microsoft.

The 15 count felony against Hitachi-LG was filed in the U.S District Court in San Francisco.

"The bid-rigging and price-fixing conspiracies involving optical disk drives undermined competition and innovation in the high tech industry," said acting assistant attorney general in charge of DOJ's antitrust division, Sharis Pozen, in the statement, according to a PC World report.

The joint venture between the two tech giants and its co-conspirators were accused of participating in meetings and conversations on multiple occasions to rig bids and fix prices.