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Florida, 7 Other States Win LCD Price Fixing Suits

TALLAHASSEE (CBSMiami/AP) – Florida and seven other states have won their suits against three Asia-based companies who they accused of conspiring to inflate prices for liquid crystal display screens used televisions and computers.

The $571 million settlement by AU Optronics Corp., LG Display Co. Ltd., Toshiba Corp. and U.S. affiliates follow a $553 million settlement in December with seven other manufacturers from Japan, Korea and Taiwan accused of fixing prices for thin film transistor LCD panels from 1999 to 2006.

The seven other states involved in the lawsuit Arkansas, California, Michigan, Missouri, New York, West Virginia and Wisconsin.

In addition to the eight states that filed claims, the agreement covers consumers in Arizona, the District of Columbia, Hawaii, Iowa, Kansas, Maine, Massachusetts, Minnesota, Mississippi, Nevada, New Mexico, North Carolina, North Dakota, Rhode Island, South Dakota, Tennessee and Vermont.

About $692 million will be available for partial refunds to consumers after court approval, according to the New York Attorney Generals Office.

Consumers will have to file claim notices, according to the class notice administrator.

 

(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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