Published in News
AU to appeal price fixing suit
Guilty verdict results in $1 billion fine
AU Optronics has said that it will appeal a guilty verdict by a US court in a price fixing suit over liquid crystal display panels.
The case could leave it facing a fine of up to $1 billion just as it looks to recover from a series of losses. AU was charged as part of an investigation into a price-fixing cartel between 1999 and 2006. It was the only LCD maker to plead not guilty. Its rival LG Electronics paid a $400 million fine in 2008, while Samsung cut a deal to avoid prosecution.
AU has been saving its pennies in case it lost the case, but said it will continue to fight. Two AU executives were also found guilty, but former AU chief executive L.J. Chen, who remains a top executive at the company and a fourth executive were found not guilty.