Reuters delivers news that Taiwanese LCD panel maker AU Optronics has been found guilty by a US court in a price fixing suit and faces a fine of up to $1 billion. The company announced it will appeal the decision.
Taiwan's AU Optronics Corp will appeal a guilty verdict by a U.S. court in a price fixing suit over liquid crystal display panels that could leave it facing a fine of up to $1 billion just as it looks to recover from a series of losses.
AU, the world's No.4 LCD maker, was charged as part of an investigation into an alleged price-fixing cartel between 1999 and 2006, but was the sole Asian LCD maker to plead not guilty. It told a media briefing in Taipei on Wednesday that the appeal process could last more than a year.
Tuesday's verdict came after rival LG Electronics Inc agreed to pay a $400 million fine in 2008, while Samsung Electronics Co Ltd cut an early deal to avoid prosecution.