Sharp, Samsung and other LCD makers conform to pay $388 million in price fixing case

The firms still aren’t admitting to any wrongdoing, but Sharp, Samsung, Chimei Innolux, LG and 4 other LCD manufacturers have now reached a settlement in a cost fixing case that began back in 2007 with a category action lawsuit. That suit specifically covers LCD panels sold between 1999 and 2006, which the corporations are imagined to have driven the worth up on, in turn driving up the costs on products that use them. The gang has agreed to pay a complete of $388 to settle the claims, with Sharp allotting the most important 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 few years back, wherein LG and Sharp were forced to pay $585 million in fines .

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This post is tagged: Bloomberg, class action lawsuit, lcd manufacturers, lcd panels, Samsung, wrongdoing