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lcd price-fixing suit results in $553 million settlement
Samsung Electronics, sharp and five other LCD manufacturers have agreed to pay more than $0. 553 billion to address claims by consumers and state regulators that they have colluded in pricing LCD panels for televisions, laptop and monitor.
This settlement is the latest lawsuit alleging the establishment of an international cartel aimed at illegally raising prices, killing competition for LCD panels from 1999 to 2006, affecting billions of dollars. S. commerce.
In December 2006, Japanese, South Korean, European Union and American authorities responded
Competition among LCD panel manufacturers.
Since then, many companies and executives have admitted to violating antitrust laws and have paid a fine of more than $0. 89 billion.
The latest expenditure includes $538.
6 million resolve the claim for the purchase of \"indirect\" purchasers of televisions and computers with thin-film transistor liquid crystal displays, as well as claims from eight states: arkansas, California, Florida, Michigan, Missouri, New York, West Virginia, and Wisconsin.
It also includes payments over $14.
7 million the attorney general of New York, Eric Schneider man\'s office, said that five companies had settled claims for civil fines and fines laws in the States. \"This price-
In a statement on Tuesday, Schneiderman said: \"fixed plans manipulate the competitive environment of companies that follow the rules, allowing consumers to pay higher fees for television, computers and other electronic products.
The deal requires Samsung to pay $0. 24 billion and sharp to pay $115.
5 million and Taiwan-
Headquartered in chiminolu, it is worth $110.
3 million. Settlement documents submitted to the United States on FridayS.
San Francisco district court fair.
Hitachi Display Ltd will pay $39 million, $25 for HannStar Display Corp. 7 million;
China Pictures Management Co. , Ltd. , $5.
$3 million and Epson Imaging equipment, $2.
9 million, according to court documents.
The settlement company also agreed to establish an anti-monopoly compliance program and to help prosecute other defendants.
Court documents show that court approval is required and the settlement company continues to dispute the charges.
State penalties include $6 million and $5 paid by Sharp.
7 million by Qimei, and a small number of Epson, Hanyu Caijing, Hitachi, Schneierman spokesman said.
Other defendants, including Taiwan, have not yet settled.
AIA, headquartered in one of the largest LCD panel manufacturers;
LG Display Corporation and Toshiba Corporation of Korea
An AU optrooper spokesman did not immediately respond to a request for comment via email.
Earlier, eight companies, including Samsung and Sharp, reached a settlement this month to pay $0. 388 billion to resolve the lawsuit against direct buyers of LCD panels.
Box in re: TFT-LCD (Flat Panel)
US antitrust actionS.
District Court, Northern California, No. 07-md-01827. (
Karen Freifeld reports;
Supplementary Report by Jonathan Stempel;
Edited by David Zimmerman, Tim Dobbyn and gunned letter)