2010-06-21
AU Optronics Indicted in Price-Fixing Investigation in the US
Taiwan's leading liquid-crystal-display (LCD) panel maker AU Optronics Corp (AUO) rejected a US federal Grand Jury’s charge that it was involved in price-fixing in the United States.
AUO's denial came after a US federal Grand Jury in San Francisco charged AUO's US subsidiary and six executives, all Taiwan citizens, of seeking to fix prices of LCD panels sold worldwide between September 2001 and December 2006. If convicted of price-fixing, they could face up to 10 years in prison, a US$ 1 million fine each and a US$ 100 million fine for the company, according to the US Justice Department.
AUO indicated that it has cooperated with the US Justice Department and other judicial authorities in the investigation of the price-fixing allegations, and that the facts of the case do not warrant the charges. AUO has already reserved approximately US$ 300 million in 2009 for possible compensation and further stated that the company's indictment of price-fixing will not have a material adverse effect on the company’s operations.
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