Head of Taiwan LCD maker barred from leaving US

Last Updated: Sunday, August 22, 2010 - 19:54

Taipei: The chief executive of a leading
Taiwanese LCD screen maker has been barred from leaving the US
during a US Justice Department probe into alleged
price-fixing, the company said.

Hsinchu-based AU Optronics Corp. said in a statement
filed yesterday with Taiwan`s Stock Exchange that a US court
has demanded its chief executive, Chen Lai-juh, stay in the
United States until his trial on price-fixing allegations
begins. Chen traveled to the US earlier to prepare for his
defence, the company said.

A federal grand jury in San Francisco indicted AU
Optronics`s Houston-based US subsidiary and six company
officials, including Chen, in June on charges of conspiring to
fix prices of LCD panels worldwide from September 2001 to
December 2006.

LCDs, or liquid crystal displays, are the flat display
screens used in many laptop computers, cell phones and new
TVs.

The US Justice Department has accused a number of
Asian LCD manufacturers of selling the screens at illegally
fixed prices to companies including Apple Inc., Dell Inc. and
IBM Corp.

According to the Justice Department, six LCD suppliers
have pleaded guilty to price-fixing charges and have been
ordered to pay fines totaling more than USD 860 million.

Among Taiwanese LCD makers, Chunghwa Picture Tubes
Ltd., Chi Mei Optoelectronics Corp. and HannStar Display Corp.
have all pleaded guilty and paid fines of hundreds of millions
of dollars.

PTI



First Published: Sunday, August 22, 2010 - 19:54

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