U.S. seeks $1 billion fine on AU Optronics over LCD price fixing Wed Sep 12, 2012 3:40am EDT (Reuters) - The U.S. government has asked a federal court to impose a $1 billion fine on Taiwan's AU Optronics Corp (2409.TW) over fixing prices of liquid crystal display (LCD) panels, court documents showed. The government has also asked the court to sentence company executives H.B. Chen and Hui Hsiung to 10 years in prison and fines of $1 million, the documents showed. AU Optronics, the world's No.4 LCD maker, was charged as part of an investigation into an alleged price-fixing cartel operating between 1999 and 2006, but was the sole Asian LCD maker to plead not guilty. U.S. prosecutors accused company executives of meeting more than 60 times at luxury hotels to fix prices of LCD panels, saying the conspiracy cost the U.S. economy billions of dollars. AU Optronics and its executives conspired with the other major makers of TFT-LCD panels to systematically fix prices. The conspiracy lasted five years, ending only when the FBI raided their offices and a federal grand jury subpoenaed the conspirators' records," the U.S. government said in the filing. In a separate filing, AU Optronics said it should face a fine of no more than $285 million. "The fine pressed by the government would threaten the very existence of AU Optronics," the company said. AU was found guilty of price fixing in March though it said at the time it would appeal the verdict. The case is in re United States of America vs AU Optronics, Case No. 09-cr-00110, U.S. District Court, Northern District of California, San Francisco division. Reporting by Sakthi Prasad; Editing by David Holmes