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Feds demand LCD maker pay $1 billion

Feds demand LCD maker pay $1 billion

September 13th, 2012 in News

SAN FRANCISCO (AP) - Federal prosecutors are seeking harsh sentences against a Taiwan company and two of its former executives, saying they participated in the most significant price-fixing "cartel" ever prosecuted in the United States.

The U.S. Department of Justice on Tuesday demanded AU Optronics Corp. pay $1 billion and the two former executives each serve 10-year prison sentences for illegally fixing computer screen prices.

The company's lawyers are arguing for a fine of no more than $285 million and significantly lighter, but undefined, prison terms for the executives.

A federal jury in March found the company, along with Hsuan Bin Chen and Hui Hsiung, guilty of price fixing.

Six other Asian LCD screen makers have paid a combined $860 million in fines after pleading guilty.