Hitachi-LG staffer gets six months for rigging drive prices

Home > Business > Industry

print dictionary print

Hitachi-LG staffer gets six months for rigging drive prices

Yang Woo-jin, a Hitachi-LG data storage sales manager for the company’s Hewlett-Packard account, agreed to plead guilty and serve six months in prison for conspiring to rig bids for optical disk drives.

The U.S. Department of Justice said today that Yang worked with others to eliminate competition for sales of the drives to HP from 2006 to 2009 by meeting with co-conspirators to decide prices and bidding strategies ahead of HP procurement events. Optical disk drives use laser light or electromagnetic waves to read data.

The conduct resulted in collusive and noncompetitive bids, the agency said in an e-mail. Yang, also known as Eugene Yang, was charged with four counts of bid-rigging, according to a filing today in a federal court in San Francisco. He agreed to pay a $25,000 fine, according to the e-mailed statement.

The company pleaded guilty in November and was ordered to pay $21.1 million for bid-rigging and price-fixing of optical disk drives, the agency said. Bloomberg
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now