Sharp: “We’re not crooks. We’re inept.”

By William Trent, CFA of Stock Market Beat

We recently noted that the price-fixing investigation of LCD makers seemed a little tough to prove, given that the industry pricing model still looks awfully broken. Now it seems that the defendants are picking up on our alibi suggestion. According to the Times of Oman:

“Honestly, we are surprised at the investigation, as we have been doing our business openly and squarely,” said Sharp spokeswoman Miyuki Nakayama.“It’s unthinkable to us that cartel activity took place given the fact that prices of LCDs are dropping sharply in the market,” she added.

You tell ‘em!

The author may hold a position in the securities discussed. The author’s current holdings are as follows: Long: FedEx (FDX) put options; Intuit (INTU) put options; Nasdaq 100 (QQQQ) put options; Bookham (BKHM; Ballard Power (BLDP); Syntax Brillian (BRLC); CMGI (CMGI); Genentech (DNA); Ion Media Networks (ION); Lion’s Gate (LGF); Three Five Systems (TFS); Adobe Systems (ADBE) call options; IShares Japan (EWJ); StreetTracks Gold (GLD); Starbucks (SBUX); U.S. Oil Fund (USO); Plantronics (PLT) call options; Short: Ceradyne (CRDN) put options; Lion’s Gate (LGF) call options; Dell (DELL) put options; Plantronics (PLT) put options

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