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December 7, 2011 06:32 pm EDT
The companies still aren't admitting to any wrongdoing, but Sharp, Samsung, Chimei Innolux, LG and four other LCD manufacturers have now reached a settlement in a price fixing case that began back in 2007 with a class action lawsuit. That suit specifically covers LCD panels sold between 1999 and 2006, which the companies are alleged to have driven the price up on, in turn driving up the prices on products that use them. The group has agreed to pay a total of $388 to settle the claims, with Sharp shelling out the largest single amount at $105 million -- Samsung is next at $82.7 million, followed by Taiwan's largest display-maker, Chimei Innolux, at $78 million, and LG at $70 million. As Bloomberg notes, this follows a criminal price fixing case a couple of years back, in which LG and Sharp were forced to pay $585 million in fines.
The Inquirer | 
Bloomberg ||Comments
Original Link: http://www.engadget.com/2011/12/07/sharp-samsung-and-other-lcd-makers-agree-to-pay-388-million-in/
Sharp, Samsung and other LCD makers agree to pay $388 million in price fixing case
The companies still aren't admitting to any wrongdoing, but Sharp, Samsung, Chimei Innolux, LG and four other LCD manufacturers have now reached a settlement in a price fixing case that began back in 2007 with a class action lawsuit. That suit specifically covers LCD panels sold between 1999 and 2006, which the companies are alleged to have driven the price up on, in turn driving up the prices on products that use them. The group has agreed to pay a total of $388 to settle the claims, with Sharp shelling out the largest single amount at $105 million -- Samsung is next at $82.7 million, followed by Taiwan's largest display-maker, Chimei Innolux, at $78 million, and LG at $70 million. As Bloomberg notes, this follows a criminal price fixing case a couple of years back, in which LG and Sharp were forced to pay $585 million in fines.Sharp, Samsung and other LCD makers agree to pay $388 million in price fixing case originally appeared on Engadget on Wed, 07 Dec 2011 13:32:00 EDT. Please see our terms for use of feeds.
PermalinkThe Inquirer | Bloomberg ||CommentsOriginal Link: http://www.engadget.com/2011/12/07/sharp-samsung-and-other-lcd-makers-agree-to-pay-388-million-in/
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