LCD Manufacturers Settle Price Fixing Lawsuit for $1.12 Billion

Posted by at 9:36 pm on July 15, 2012

Several LCD manufacturers are paying out a total of $1.12 billion to settle a class action lawsuit over price fixing, the Wall Street Journal reports. LG will lose the most in the arrangement, paying out $380 million. AU Optronics is on hook for $170 million, while Toshiba is due for $21 million. Several other companies settled earlier in the year, including Samsung, which gave up $240 million.

Several of the businesses are known suppliers to Apple, one of the alleged victims. At this stage, however, it’s unknown how much money any of the plaintiffs might receive. The settling parties have also not acknowledged any wrongdoing, and say they are instead settling to end the case, which has been ongoing since 2008.

Apple is one of the larger buyers of LCDs in the high-tech industry, thanks primarily to iPhone and iPad sales. Samsung is in fact the main supplier of iPad displays, although LG could begin contributing in the near future if it isn’t already.

Leave a Reply

Sign Up For Our Newsletter

Sign up to receive breaking news
as well as receive other site updates

Enter your Email


Preview | Powered by FeedBlitz

Log in

Copyright © 2008 - 2020 · StreetCorner Media , LLC· All Rights Reserved ·