Toshiba Nailed For $87m In LCD Price Fixing Case; Still Says It's Innocent
Ouch. Toshiba is the latest panel maker to feel the pinch after being fined a whopping $87 million by a U.S. jury in a price fixing verdict. This week, Toshiba and its subsidiary, Toshiba America Electronic Components, Inc. (TAEC), announced that a jury in the United States District Court for the Northern District of California (San Francisco) issued a verdict against Toshiba in the amount of $87 million due to alleged antitrust practices in the LCD business. It's just one of many companies found guilty over the past few years, and Toshiba is making clear that it expects to not pay for any of it. Why? Because they think they're innocent.
This class action was filed in 2007 by direct purchasers of LCD panels and related products in the United States, but Toshiba has consistently maintained that there was no illegal activity on its part in the LCD business. In fact, the company is so secure in its feelings about an eventual overturning of the verdict that it's not even bothering to revise projections for fiscal 2012 performance..
This class action was filed in 2007 by direct purchasers of LCD panels and related products in the United States, but Toshiba has consistently maintained that there was no illegal activity on its part in the LCD business. In fact, the company is so secure in its feelings about an eventual overturning of the verdict that it's not even bothering to revise projections for fiscal 2012 performance..
