HSINCHU, Taiwan, June 10 /PRNewswire-Asia-FirstCall/ -- AU Optronics Corp. ("AUO" or "Company") today issued the following statement regarding the United States Department of Justice's ("DOJ") action towards AUO, AUO's US subsidiary and six personnel including the Vice Chairman Mr. HB Chen and the President Dr. LJ Chen:
"AUO has cooperated with the DOJ and other authorities in their investigations of the TFT-LCD industry since they began in December of 2006 and is disappointed with the DOJ's action today.
When institutions are confronted with allegations of wrongdoing, it is tempting to look for someone to blame, even its own managers or employees. Regardless of what others may do, that is not the way AUO does business and is not the path it chooses now.
AUO believes the facts of the case do not warrant such charges, as shown, among others, by the intense competition within the industry which has benefited consumers as shown by the steep decline in prices over the years for TFT-LCD panels. AUO has achieved its technical and market success through the hard work of its many dedicated and talented employees, and has long been a leading innovator in the TFT-LCD industry. AUO is proud of what its employees have accomplished and will stand with them in defending against these allegations. AUO's culture of innovation remains strong and will continue as it expands into solar energy solutions and pursues its vision as a green service provider.
The Company believes in the integrity and fairness of the U.S. Justice System and so will continue to defend itself. Despite AUO's strongly-held views, the company will continue to review the matter and take appropriate actions as the case progresses. The Company believes that the indictment will not have a material adverse impact to the Company's normal operations currently."
ABOUT AU OPTRONICS
AU Optronics Corp. (AUO) is a global leader of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers with a full range of panel sizes and comprehensive applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to greater than 65 inches. AUO generated NT$359.3 billion (US$11.2 billion) in sales revenue* in 2009 and now houses a staff of more than 42,000 employees, with global operations in Taiwan, Mainland China, Japan, Singapore, South Korea, the U.S., and Europe. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO extended its market to the green energy industry in late 2008, and formally founded its Solar Photovoltaic Business Unit in October, 2009. For more information, please visit AUO.com.
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on May 11th, 2010.
SOURCE AU Optronics Corp.