Antitrust Division Collected More Than $1 Billion in Fines Last Year
By Aruna Viswanatha | January 6, 2022 7:00 pm

The Justice Department collected more than $1 billion in criminal antitrust penalties in the last fiscal year, and around $229 million in the first quarter of this one, according to a study released yesterday by Gibson, Dunn & Crutcher.

The 2009 fiscal year tally is a 48% increase over the previous year’s, according to the report. The biggest fines came in a price-fixing investigation in the LCD flat-panel television industry, and in the air cargo industry.

LG Display alone paid out $400 million in fines, and Sharp and Chunghwa Picture Tubes each paid out $120 million and $65 million, respectively.

Many of the heavy fines came before the end of the last administration, so the eye-popping numbers don’t signal any stepped up enforcement under President Obama. Scott Hammond, the Antitrust Division’s Deputy Assistant Attorney General for Criminal Enforcement held the same role in the prior administration.

The international total for criminal antitrust penalties in the 2009 fiscal year was $3.6  billion.

Check out the full report here.


Comments are closed.

The Senate Democratic leader describes the Republicans' refusal to hold hearings on President Obama's eventual Supreme Court nominee "historically unbelievable and historically unprecedented."

An error has occurred, which probably means the feed is down. Try again later.