U.S. And EU Antitrust Authorities Impose Extraordinary Fines In Two New Enforcement

This week, in separate new matters, the United States and the European Union announced the detection and prosecution of price fixing agreements among competitors. The U.S. Department of Justice reported guilty pleas and fine agreements by three Asian manufacturers of liquid crystal display (LCD) panels. The European Commission revealed its investigation and fines imposed on four suppliers of automobile glass. Each authority obtained a record or near-record fine, reflecting its continued commitment and success in prosecuting cartels.

In the U.S. matter, on November 12 the Justice Department filed charges against LG Display (South Korea), Sharp Corporation (Japan), and Chungwha (Taiwan), all of which have agreed to plea guilty and pay fines for conspiring to fix prices of LCD panels, which are used in computer monitors and other electronic devices. The government charged that the defendants met and agreed on LCD prices, bid to customers in accordance with those agreed