$585 million price-fixing fine

[ravenware]

From CNN:

Sharp, LG and Chunghwa of Taiwan agree to guilty plea in anti-trust settlement.

By Terry Frieden, CNN justice producer
November 12, 2008: 1:42 PM ET

WASHINGTON (CNN) -- Three major electronics manufacturers have agreed to plead guilty to a price-fixing conspiracy and pay $585 million in criminal fines for their roles in the pricing of LCD display panels, the Justice Department said Wednesday.

The department announced the charges following a settlement with Sharp Corp. of Japan; LG Display Co. (LPL) of South Korea and Chunghwa Picture Tubes of Taiwan.

The charges were filed in U.S. District Court in San Francisco, Calif., and announced by the assistant attorney general for antitrust at the Justice Department in Washington.

 

[Unolocogringo]

As always. The customer gets screwed on price. The government collects and keeps the fines.