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EU: LG, Innolux score LCD price-fixing fine cuts

 |  February 27, 2014

South Korean firm LG and Taiwan-based Innolux scored major wins at the EU General Court Thursday as fines issued to the firms for their participation in an LCD screen price-fixing cartel were slashed by a combined $23.2 million.

Reports say the EU General Court found that the European Commission made a procedural error in calculating LG’s fine, and that Innolux had made its own errors when providing financial data to the Commission.

The EU regulator issued fines to the companies, and three others, in 2010 for fixing LCD screen prices between 2001 and 2006; Samsung was also found to have taken part in the cartel but was not fined under the EU’s leniency program.

The EU General Court’s ruling can be appealed, say reports.

Full Content: Bloomberg

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