LCD makers settles price-fixing lawsuits for US$553 million (cnet)
Seven LCD manufacturers including Samsung and Sharp have agreed to pay US$553
million to settle lawsuits on price-fixing. Seven LCD manufacturer including
Samsung and Sharp this monthagreed to pay US$553 million to settle lawsuits
that claimed thecompanies were colluding with one another to fix the prices of
theirpanels for use in consumer electronics.Legal documents filed last week,
and picked up by Reuters,show that the collected fines total US$553 million
between thecompaniesinvolved, and that said companies will be setting up
antitrustcompliance programs as part of the deal. Of that sum, about
US$501million is going towards a refund program for consumers, and
aboutUS$37million is being doled out to governments and others involved in
theform of legal damages.The original complaints alleged that the companies
wereworking together with one another to create an international cartel toset
and control pricing of LCD panels. This particular settlement is to”indirect”
purchasers who bought products with those panels, along witheight US states
where they were sold. Samsung is paying out the most of the companies
involved, witha US$240 million share of the settlement. It’s followed by Sharp
atUS$115.5 million, Chimei InnoLux at US$110.3 million, Hitachi Displaysat
US$39 million, Hannstar Display at US$25.7 million, Chunghwa PictureTubes …
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