Chi Mei Optoelectronics (CMO), among some others, seemed to have gotten a bit greedy for almost 5 years by secretly meeting and agreeing upon setting the price(s) for some TFT LCD displays used commonly in computer monitors.

“Six companies have pleaded guilty to worldwide price fixing of Thin-Film Transistor Liquid Crystal Displays from Sept. 14, 2001, to Dec. 1, 2006. For violating the Sherman Act, the companies have agreed to pay criminal fines of over $860 Million. In addition, nine executives have been charged in the scandal. The pricing scam affected some of the largest companies at the time, including Apple, HP and Dell. (If you bought a TFT-LCD from them in that time frame, you may be one of the victimized consumers.) From the DOJ release, ‘According to the charge, Chi Mei carried out the conspiracy by agreeing during meetings, conversations and communications to charge prices of TFT-LCD panels at certain pre-determined levels and issuing price quotations in accordance with the agreements reached. As a part of the conspiracy, Chi Mei exchanged information on sales of TFT-LCD panels for the purpose of monitoring and enforcing adherence to the agreed-upon prices.’”

Probably explains why CMO earned $30 billion dollars in 2009 alone. Yes, billion… with a “b“.

[ Source: Slashdot.org ]