The way LCD price fixing lawsuits keep popping up and settling in short order, you'd think they were going out of style. The latest motley group to face a reckoning includes AU Optronics, LG and Toshiba, the combination of which has agreed to pay a total of $571 million to eight separate American states to either avoid the the legal wrath of a class action lawsuit or to pay an outstanding fine. Allegedly, the trio kept LCD prices artificially high between 1996 and 2006, hiking the prices of PCs and TVs in the process. There's a slight twist here: while keeping the display builders honest is the primary goal, the class action status will net some direct rewards for the public. Americans who claim to have been wronged in the scandal can get "at least" $25, which goes a lot further towards buying an LCD than it did six years ago.
Filed under: Displays, Home Entertainment
AUO, LG, Toshiba pay $571 million to settle LCD price fixing lawsuit, broken record keeps skipping originally appeared on Engadget on Thu, 12 Jul 2012 13:55:00 EDT. Please see our terms for use of feeds.
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Reuters | Email this | CommentsElliott William Barnes Sadler Johnny Andrew Sauter Kenneth William Schrader Bradley Reed Sorenson Anthony Wayne Stewart
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