Taipei,Sept.13,2012(CENS)--The United States Justice Department has appealed court for ruling 10 years in prison on AU Optronics Vice Chairman H.B.Chen and its former vice president,H.Hsiung,and US$1 billion in fine on the company for the company's allegedly fixing liquid crystal display(LCD)prices in the United States with other suppliers.
The justice department has sued top executives of leading LCD manufacturers in South Korea,Japan and Taiwan for reaching agreements in several closed-door meetings on manipulating prices of the displays,a practice that the department says has caused billions of US dollars of damage to U.S.economy.
The manufacturers include LCG,Sharp,Chimei Innolux Corp.and AUO.While the other defendants have chosen to plead guilty in the charge,AUO is the only one that decides to fight the charge.
In June 2010,the department officially prosecuted AUO,Chen and Hsiung.The department confiscated their passports and confined them within the U.S.territory when they arrived for rebuttal.
In March this year,the Federal Court decided that AUO and the two executives were guilty.Upon hearing the judgment,AUO decided to appeal.
Before the Appeal Court's decision comes out,the justice department has asked the court to rule 10 years in prison and US$1 million in fine on the two executives,respectively,as well as US$1 billion in fine on the company.
The department charges that AUO and its industry peers had fixed LCD prices for five years until the Federal Bureau of Investigation(FBI)raided their U.S.offices and federal jury issued them subpoenas.
AUO pointed out that it will continue appealing as soon as court decision is published.The company has prepared US$430 million for fine in the case.If the court decides to take the justice department's opinion,AUO will have to hike the fund,which will affect the company's financial balance.
