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|12-06-2012, 07:47 PM||#1|
Gen Univ Roleplaying Sys
Member Since: Nov 2012
EU imposes record fine on cartel that includes LG,
EU imposes record fine on cartel that includes LG, Panasonic, Philips
The European Commission has imposed a record fine for antitrust against six major companies for practicing as a cartel for the better part of a decade.
Philips, LG Electronics, Panasonic, Samsung SDI, Toshiba and Technicolor will have to pay 1.47 billion euros together for their part.
EC officials concluded the companies fixed prices on CRT monitors and TVs for years, meeting in secret in different locations from 1996 all the way until 2006.
"These cartels for cathode-ray tubes are 'textbook cartels': they feature all the worst kinds of anti-competitive behavior that are strictly forbidden to companies doing business in Europe," EU Competition Commissioner Joaquin Almunia said in a statement.
“Remember, before the Affordable Care Act, these bad-apple insurers had free rein every single year to limit the care that you received, or use minor preexisting conditions to jack up your premiums or bill you into bankruptcy. So a lot of people thought they were buying coverage, and it turned out not to be so good.”
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