Hitachi pleads guilty to price-fixing
The electronics manufacturer agrees to pay $31 million in fines and cooperate with the government investigation.
WASHINGTON (CNN) -- Hitachi became the latest electronics manufacturer to agree to plead guilty to price-fixing in the sale of LCD panels used in desktop monitors and notebook computers, the Justice Department announced Tuesday.
In the plea agreement, which was filed in federal court in San Francisco, Calif., the Japanese manufacturer agreed to pay $31 million in fines and cooperate with the U.S. government's ongoing antitrust investigation.
The one-count felony charge to which Hitachi (HIT) will plead says the firm participated in a conspiracy to fix prices of LCD panels sold to Dell (DELL, Fortune 500) from 2001 to 2004.
In a Justice Department statement, Acting Assistant Attorney General Scott Hammond, who heads the Antitrust Division, said the Hitachi plea "should send a strong message to multinational companies operating in the United States."
To date, the federal investigation has led to charges against four companies and seven individuals. So far, all the companies and four of the individuals have pled guilty. Arrest warrants have been issued for two former Chunghwa executives and one former LG Display Co. executive.
Hammond said the Hitachi plea, along with previous pleas by Sharp Corp.,LG Display Co. (LPL), and Chunghwa, brings the total in criminal fines to $585 million. 
