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South Korea: LG to fight its share of $2B fine issued for CRT price-fixing

 |  December 6, 2012

LG Electronics has announced it will fight the fine issued by the European Commission of $653 million, served after LG was found guilty of price-fixing and cartel conspiracy in its pricing of cathode ray rube monitors. The European Commission announced earlier this week it has issued nearly $2B in fines to seven companies who conspired in the price-fixing of CRTs. LG’s fine was particularly high due to the Commission’s decision to not only hold LG accountable for its anticompetitive actions, but to also hold the company accountable for its joint venture, now defunct, with Royal Philips Electronics, called LG Philips Display. LG is claiming, however, that the joint venture ran independently from LG’s managerial side.

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