DOJ: Samsung To Pay $32M For Price Fixing
WASHINGTON (AP) — The U.S. Justice Department said Friday that Samsung SDI Co. has agreed to plead guilty in a price-fixing conspiracy and pay a $32 million fine.
The Justice Department said Samsung SDI, part of South Korea's Samsung Electronics Co., conspired to fix prices, reduce output and allocate market shares of color display tubes, a type of cathode ray tube used in computer monitors and other devices.
A representative for Samsung did not immediately return a request seeking comment.
According to court documents filed Friday in U.S. District Court in San Francisco, the CDT price-fixing activity began at least in January 1997 or earlier and lasted until March 2006 or later. The company was charged with conspiring to charge prices at certain target levels or ranges, to shut down production lines for certain periods of time and to split up market share. The company was also charged with exchanging sales, production, market share and pricing information with unnamed conspirators.
The Justice Department said Samsung SDI met with conspirators in Taiwan, South Korea, Malaysia, China and elsewhere.
The charges and the plea agreement follow indictments in 2009 and 2010 of six individuals related to the CDT price-fixing conspiracy.
The plea agreement is still subject to court approval. Samsung SDI has agreed to cooperate with the Justice Department's ongoing investigation, the department said.