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Data Storage

+ - Hitachi-LG Fined $21M for Price-Fixing Drives->

Submitted by wiredmikey
wiredmikey (1824622) writes ""Hitachi-LG Data Storage, a joint venture between Hitachi and LG Electronics, has agreed to plead guilty and to pay a $21.1 million criminal fine for its part in a scheme to rig bids and fix prices of optical disk drives.

According to the Department of Justice, the company had conspired with others to rig the bidding process on optical disk drives sold to Dell, HP, and Microsoft.

According to court documents, Dell and HP hosted optical disk drive procurement events in which bidders would be awarded varying amounts of optical disk drive supply depending on where their pricing ranked. The company and co-conspirators held meetings and discussed bidding strategies, enabling it to bypass the competitive bidding process as a result of the information shared...."

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Hitachi-LG Fined $21M for Price-Fixing Drives

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