LG Display settles LCD price-fixing case in US

13 Jul, 2012

LG Display settles LCD price-fixing case in US

 

LG Display has become the latest of ten companies to settle a price-fixing case in the US by agreeing to pay $380m (£246m), the largest amount to be paid.

 

The company, which is the world’s second biggest producer of LCD displays, was accused of fixing prices of LCD panels during the period between 1996 and 2006, along with other large names such as Samsung, Sharp, Hitachi and Toshiba. Although LG Display has said it did not done anything wrong, it has agreed to pay the money in order to prevent ‘the expense and burden of protracted litigation’, according to the BBC.

 

The prices of the devices using LCD devices will have been pushed higher as a result of the alleged price fixing.

 

Toshiba is set to pay out $21m, whilst Samsung paid out $240m back in December. The money will go to state governments and US consumers. 

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