Andre Yoskowitz
27 Dec 2011 21:56
Seven prominent LCD makers have agreed to pay a fine of $553 million to settle multiple cases relating to claims they conspired together to fix prices for LCD panels found in TVs, notebooks and other monitors from the years 1999 to 2006.
The companies in question are Samsung, Sharp, Hitachi, HannStar Display, Chimei Innolux, Chunghwa Picture Tubes and Espon Imaging Devices. The case began in 2006, as authorities in Japan, Korea, the EU and the U.S. began probing into the "cartel" that had been formed by the companies and their anti-competitive activity.
So far, the companies and their top execs have paid out over $890 million in fines for settlements in the EU or elsewhere. Just last month, 8 companies including Samsung and Sharp, agreed to pay $388 million to settle litigation by direct purchasers of the LCD panels, says Reuters.
The $553 million from this payout will go to "indirect purchasers" of the LCDs and claims by 8 U.S. states; Arkansas, California, Florida, Michigan, Missouri, New York, West Virginia and Wisconsin.
Samsung will pay $240 million, Sharp will pay $115.5 million, Chimei Innolux Corp will pay $110.3 million, Hitachi Displays, $39 million, HannStar Display, $25.7 million, Chunghwa Picture Tubes Ltd, $5.3 million and Epson Imaging Devices at $2.9 million.