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LG Display settles claims of price-fixing in 8 U.S. states

May 1, 2012 - 19:34 By Korea Herald
LG Display Co. agreed to settle claims by eight U.S. states and consumers that the company colluded with other makers of liquid-crystal displays to fix prices.

The company said on Tuesday in a regulatory filing that it reached an agreement in principle with a class of so-called indirect purchasers and with the attorneys general of Arkansas, California, Florida, Michigan, Missouri, New York, West Virginia and Wisconsin. Terms of the settlement, which must be approved by a judge, were not disclosed.

The settlement does not resolve claims by Illinois, Mississippi, Oklahoma, Oregon, South Carolina and Washington, according to the filing.

Sharp Corp., Samsung Electronics Co. and five other makers of thin-film-transistor LCD panels used in computers and televisions agreed in December to pay $538.6 million to settle antitrust claims by indirect purchasers. The cases are consolidated in federal court in San Francisco. A jury trial is scheduled to start next month.

Lee Bang-soo, a spokesman for Seoul-based LG Display, did not immediately respond to an e-mail seeking comment on the terms of the settlements. Brad Brian, a Los Angeles-based lawyer for the company, did not immediately return a call to his office.

Joseph Alioto, a lawyer for the class-action plaintiffs, said that all panel makers have now agreed to settle with the consumers, including Hsinchu, Taiwan-based AU Optronics Corp. and Tokyo-based Toshiba Corp., which were not part of the settlement announced in December.

The terms of the settlement will be disclosed in court filings seeking preliminary approval, Alioto said in a phone interview.

Christopher Nedeau, a lawyer for AU Optronics, declined to comment on the settlement. Christopher Curran, a lawyer for Toshiba in New York, did not immediately return a call to his office for comment seeking on it. (Bloomberg)