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HP Displays The Almighty Buck The Courts Your Rights Online

HP Sues Over LCD Price Fixing 56

Posted by Soulskill
from the shady-business-practices-on-display dept.
angry tapir writes "Hewlett-Packard has filed a complaint against display manufacturers Chunghwa Picture Tubes and Tatung Company of America, seeking to recover damages it claims it suffered as a result of their involvement in a price fixing scheme. In November 2008, Chunghwa pleaded guilty to participating in a conspiracy together with other display manufacturers, including LG Display and Sharp, to set the prices of Thin-Film Transistor-Liquid Crystal Display (TFT-LCD) panels to predetermined levels. The company agreed to pay a US$65 million criminal fine at the time. A jury found AU Optronics, another display manufacturer, guilty of participating in the same conspiracy and was fined US$500 million in September by a judge of the U.S District Court for the Northern District of California. In October last year, 10 LCD makers, including Chunghwa Picture Tubes, were fined $176 million in South Korea for allegedly holding secret meetings to keep the prices for flat screen displays artificially high."
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HP Sues Over LCD Price Fixing

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  • Re:That's nice (Score:4, Interesting)

    by hairyfeet (841228) <{bassbeast1968} {at} {gmail.com}> on Wednesday December 05, 2012 @05:51AM (#42189683) Journal

    They are just trying to cover for the fact the board spent billions more for recent purchases than they were worth, no different than their claims that there was cooked books on their last buy...yeah, 5.5 BILLION in cooked books, sure, uh huh, really buy that.

    They are trying to CYA because while they have gone through CEOs like crap through a goose Whitman and the rest of the board were there too and rubber stamped all those crazy buys, even with everybody pointing out they were paying several times what the companies were worth even in the most optimistic outlook. So expect to see more lawsuits and accusations in the coming months as they probably have another 8-10 billion they are gonna have to write off and the board don't want to take the blame they rightfully deserve.

    Did these companies overcharge HP? Oh I have no doubt, but considering how many billions they have pissed away the past few years its like pointing at a guy with a match and saying "Its HIS fault!" while the board is taking flamethrowers to the corporate headquarters. hey! Maybe they can pay Nokia several times what its worth for their HQ? Would fit right in with the rest of their lamebrained purchases of late.

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