Sharp LG Display to plead guilty to price fixing

LG Display and Sharp will plead guilty in mid-December to price fixing in the market for thin-film transistor liquid crystal displays, the US Justice Department said on Tuesday.

LG Display, which agreed to pay $400m in fines, will be sentenced on 15 December, while Sharp, which will pay $120m in fines, will be sentenced on 16 December, according to a court filing distributed by the Justice Department.

Sentencing was scheduled for the US district court in San Francisco.

LG Display, Sharp and Chunghwa Picture Tubes were cooperating with US authorities, the Justice Department said last month.

European and Asian antitrust authorities were also looking at the LCD market.

The Justice Department's Antitrust Division has a leniency program that allows companies involved in price fixing to receive lesser fines if they are among the first companies involved in any conspiracy to turn themselves in.

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