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[TH] LCD Manufacturers Paying $539M To Settle Antitust Lawsuit

post #1 of 4
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Earlier this month, Samsung, Sharp and six other LCD manufacturers agreed to pay $388 million to settle price-fixing claims made by direct buyers. The settlement was part of a series of antitrust cases brought by Arkansas, California, Florida, Michigan, Missouri, New York, West Virginia and Wisconsin which were consolidated in federal court in San Francisco.

In late 2006, a probe into price-fixing allegations made by direct and indirect buyers was initiated by authorities in Japan, Korea, the European Union and the United States. Eventually many companies and executives stepped forward and pleaded guilty to criminal antitrust violations. Among them were LG, Chunghwa Picture Tubes and Sharp who reportedly agreed in 2008 and 2009 to pay $585 million in criminal fines alone. A total of more than $890 million in fines was paid out from all guilty parties.

www.tomshardware.com/news/Price-Fixing-Antitrust-San-Francisco-LCD-samsung,14380.html/

I remember someone asking a couple weeks ago why monitors were so expensive...
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post #2 of 4
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Originally Posted by Dranx View Post

www.tomshardware.com/news/Price-Fixing-Antitrust-San-Francisco-LCD-samsung,14380.html/
I remember someone asking a couple weeks ago why monitors were so expensive...

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post #3 of 4
Nice to see the lawyers get paid. How does this benefit the consumer? What should happen is the LCD manufacturers should send rebate checks or manufacturer coupons to anyone who registers a monitor from that era with the manufacturer. I guess no one's ever accused the government of being sensible.
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post #4 of 4
Just some chump change to throw at the system as a "thank-you" for letting the cartel off so easy. $500 million is breakage
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