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Taiwan co. fined $500 million for LCD price fixing

2 years ago September 20, 2012 Sep 20, 2012 Thursday, September 20 2012 Thursday, September 20, 2012 12:25:12 PM EDT in News
Source: Associated Press

SAN FRANCISCO - A Taiwanese company has been fined $500 million and two of its former top executives sentenced to three years in prison for their leading roles in a global LCD screen price-fixing conspiracy.

The sentences handed down Thursday are among the harshest penalties ever given in an antitrust criminal case.

Still, the U.S. Department of Justice complained the punishment was not enough. Federal prosecutors demanded a $1 billion fine and a 10-year prison sentence for the executives.

U.S. District Judge Susan Illston said she rejected the demand because A.U. Optronics has already paid out millions to settle a class-action lawsuit and still faced other lawsuits around the world.

And she said the executives didn't deserve lengthier sentences.

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