Nolan Posted November 14, 2008 Posted November 14, 2008 The three companies have agreed to plead guilty to charges issued by the US Dept of Justice that they conspired to fix LCD prices in devices ranging from cell phones to TVs and monitors between 2001 and 2006. "The price-fixing conspiracies affected millions of American consumers who use computers, cell phones and numerous other household electronics every day," Thomas Barnett, assistant attorney general for the DOJ's antitrust division, said in a statement. LG paid the largest fine, a whopping $400 million, for their role in the conspiracy, while Sharp agreed to pay $120 million. Where I found it http://firingsquad.com/news/newsarticle.asp?searchid=21001 Where they found ithttp://news.cnet.com/8301-1001_3-10095219-92.html
Rummy Posted November 14, 2008 Posted November 14, 2008 Wow, that's pretty crazy. Also pretty damn bastardly too! Where does the monies from their fines go to though?
Shino Posted November 14, 2008 Posted November 14, 2008 I completely dismissed this thread at the first time thinking it was spam bot. Did they do this over here?
Nolan Posted November 14, 2008 Author Posted November 14, 2008 I completely dismissed this thread at the first time thinking it was spam bot. Did they do this over here? lol at the spam bot thing My first thought would be yes, but the cnet article only mentions American consumers, but that could just be poor reporting.
S.C.G Posted November 14, 2008 Posted November 14, 2008 If it was just America then *shrugs* doesn't affect me... I bought an LG monitor once, was reasonably priced at the time a few years back, I just use it as a secondary monitor now but yeah anyway it certainly wasn't extortionately priced at time of purchase.
Nolan Posted November 14, 2008 Author Posted November 14, 2008 Yea.....I don't think I've really seen their prices be that much higher than other LCDs, it seems the biggest effect they're attributing it with is choking Dell and Apple with LCD shortages.
ReZourceman Posted November 14, 2008 Posted November 14, 2008 How did they find out? Probably screened employees.....
Ollie Posted November 14, 2008 Posted November 14, 2008 What's sad is that this kind of thing happens everyday all over the world every time you buy goods and services. If only more companies would get busted the world may be a slightly better place. Shame the money probably goes straight into some government bank account to fund wars rather back to the consumer. We can just think of it as paying more tax.
Rummy Posted November 14, 2008 Posted November 14, 2008 How did they find out? Probably screened employees..... These forums need a rep system, mainly just for ReZ's posts. Genius lol.
Nolan Posted November 14, 2008 Author Posted November 14, 2008 In my experience, rep is either neglected or abused.
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