The Justice Department late Tuesday night asked a federal judge to impose a $1 billion criminal fine against AU Optronics Corp. (AUO, 2409.TW) for its March conviction for participating in a scheme to fix prices on liquid-crystal-display panels.
In a 56-page court filing, the department also said two convicted company executives should serve 10 years in prison and pay $1 million in fines.
“These defendants were central figures in the most serious price-fixing cartel ever prosecuted by the United States,” the department said. “Only these sentences could possibly reflect the seriousness of this offense or provide adequate deterrence.”
Editor: Despite the news of the fine, insiders say AUO due to ship 500,000 panels for iPad Mini, boosting it’s share prices upwards.