On 27 February 2014, the General Court (“GC”) handed down judgments on the appeals brought by Innolux Corp. (“Innolux”) and LG Display Co. Ltd and LG Display Taiwan Co. Ltd (together “LG Display”) against the Commission’s decision on the liquid crystal display (“LCD”) panels cartel. LCD panels are the main component of flat screens used in televisions and electronic notebooks. In its decision of 8 December 2010, the Commission imposed fines totaling approximately EUR 649 million on six Korean and Taiwanese manufacturers of LCD panels for operating a cartel between October 2001 and February 2006. The largest fines, EUR 300 million and EUR 215 million, were imposed on Innolux and LG Display respectively. Both companies brought actions before the GC seeking annulment of the Commission’s decision or, failing that, the reduction of the fines. In its judgments, the GC upheld the substance of the Commission’s decision, but slightly reduced the fines imposed on each of the companies. The GC found that Innolux had made errors when it provided the Commission with the data necessary for calculating the value of relevant sales in that it had included sales relating to products other than the LCD panels subject to the cartel. As a result, the value of sales used by the Commission in setting the fine was too high. The GC recalculated the fine on the basis of the lower, corrected, sales value and reduced the fine imposed on Innolux from EUR 300 million to EUR 288 million. As regards LG Display, the GC found that as the Commission had granted partial immunity in respect of January 2006, that period should have been excluded from every stage of the calculation of the fine. Thus, the GC reduced the fine imposed on LG Display from EUR 215 million to EUR 210.Source: General Court Press Release 27/02/2014