Brazil enforcer seeks fines for LCD and tube cartels
The investigatory arm of Brazil’s competition watchdog has asked its decision making body to penalise members of two global cartels in the markets for liquid crystal display panels and tube monitors.
In a statement, Brazil’s enforcer said the conduct affected competition and caused losses in Brazil both to companies who acquired the product internationally and to consumers.
The cartels exchanged commercially sensitive information such as production capacity, supply shortages and information on new product launches, colluding to fix prices, set target prices and coordinate price increases, CADE said.
The case will now go to CADE’s tribunal, which will issue the final decision on the case. The accused companies can be fined up to 20% of their annual turnover for the year prior to the case being filed.
Vicente Bagnoli, a partner at Vicente Bagnoli Advogados, said both cases are good examples of the effectiveness of leniency agreements to combat cartels.