LCD Makers Settle Price Fixing Lawsuit for $538 Million

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News Posted: Sun, Feb 26 2012 11:00 AM
LCD makers got caught with their hands in the cookie jar, so to speak, and now it's time to pay up. The State of California Department of Justice announced a $538 million settlement resulting from a lawsuit filed in October 2010 against 10 companies who allegedly "conspired to fix, raise, maintain, or stabilize prices of TFT-LCD flat panels resulting in overcharges to consumers."

The settlement applies to products with LCD panels (computer monitors, laptops, and PCs) purchased between 1999 and 2006, though only if you live in the District of Columbia or one of 24 states named in the settlement, including Arizona, Arkansas, California, Florida, Hawaii, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Mexico, New York, North Carolina, North Dakota, Rhode Island, South Dakota, Tennessee, Vermont, West Virginia, and Wisconsin.


Companies who agreed to settle have set up a $538 million fund that breaks down as follows:
  • Samsung: $240 million
  • Sharp: $115.5 million
  • Chimei: $110.3 million
  • Hitachi: $38.98 million
  • Hannstar: $25.65 million
  • Chunghwa: $5.3 million
  • Epson: $2.85 million

Non-settling defendants include AU Optronics Corporation, LG, and Toshiba. If you qualify for part of the settlement, you can find more information on how to submit a claim by going here.

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Interesting! Why is Epson a part of this? Arent they a scanner/printer company?

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OSunday replied on Mon, Feb 27 2012 12:33 AM

So the settlement is going to be paid out to anyone who purchased a product from one of those manufacturers?

Aside from Sharp and Samsung, aren't the other companies all component manufacturers as well, meaning that getting a settlement on any lcd-tft device with their components is hard to verify and complicated

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AKwyn replied on Mon, Feb 27 2012 6:53 AM

OSunday:

So the settlement is going to be paid out to anyone who purchased a product from one of those manufacturers?

Aside from Sharp and Samsung, aren't the other companies all component manufacturers as well, meaning that getting a settlement on any lcd-tft device with their components is hard to verify and complicated

Have to agree; I mean they only provide the components for the LCD screen, it'd be better if they handed the decision down to the LCD manufacturers themselves rather then to various companies since they sell those things.

 

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Ummmm i love to see justice :) economy going up? lol

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