Another company caught in the act
Apr 1, 2009 7:57:59 GMT
Post by CharlieChomper on Apr 1, 2009 7:57:59 GMT
For those who haven't heard about this yet, Hitachi has been the most recent company caught in the act of price fixing.
In short, if you bought a computer or "notebook"/laptop from Dell between April 1 of 2001 through March 31, 2004 you may have been among those affected by this directly.
Unlike in the past, where sometimes the consumer was the unknowing target of such a scheme within the industry by key players of it within a particular component market, this time around the target was a major computer builder (who, in turn, passed on the cost to the consumer--without the system builder being aware they were the victims of price fixing).
Hitachi are being forced to pay a $31 million fine for their role in this, making them the fourth LCD company to get caught in the act of price fixing (the others are LG (who plead guilty and are being forced to pay a $400 million fine, with arrest warrants out for two of their executives), Sharp (who pleaded guilty on three separate conspiracy schemes involving price fixing and sales to Apple, Dell, and Motorola and were forced to pay a $120 million fine), and Chunghwa Picture Tubes Ltd/Chunghwa (who plead guilty to the same counts as LG and forced to pay a $65 million fine, plus three of their executives being criminally charged, with one and sentenced to seven months and $30,000 fine and another sentenced to nine months and an additional $50,000 fine, with the third pleading guilty and sentenced to six months and a $20,000 fine).
In short, if you bought a computer or "notebook"/laptop from Dell between April 1 of 2001 through March 31, 2004 you may have been among those affected by this directly.
Unlike in the past, where sometimes the consumer was the unknowing target of such a scheme within the industry by key players of it within a particular component market, this time around the target was a major computer builder (who, in turn, passed on the cost to the consumer--without the system builder being aware they were the victims of price fixing).
Hitachi are being forced to pay a $31 million fine for their role in this, making them the fourth LCD company to get caught in the act of price fixing (the others are LG (who plead guilty and are being forced to pay a $400 million fine, with arrest warrants out for two of their executives), Sharp (who pleaded guilty on three separate conspiracy schemes involving price fixing and sales to Apple, Dell, and Motorola and were forced to pay a $120 million fine), and Chunghwa Picture Tubes Ltd/Chunghwa (who plead guilty to the same counts as LG and forced to pay a $65 million fine, plus three of their executives being criminally charged, with one and sentenced to seven months and $30,000 fine and another sentenced to nine months and an additional $50,000 fine, with the third pleading guilty and sentenced to six months and a $20,000 fine).
