Samsung, Sharp, CMI and LG are amongst a group of eight LCD manufacturers that have agreed to pay $388 million dollars to settle a price cartel case in the years 1996-2006, according to Bloomberg. The companies deny any wrongdoings.
Price cartel case
Eight LCD manufacturers have been accused of involvement in a case of a price fixing cartel for 1996-2006. The case began in 2007 as a class action lawsuit in the U.S. The companies are accused of fixing prices on LCD panels that consequently also affects LCD-TV prices.
8 LCD panel manufacturers fined 388 million USD in price fixing case
The final meeting is scheduled for December 19 but the case is formally closed, according to Bloomberg. According to court documents, Sharp paid $ 105 million, Samsung paid $82.7 million, CMI paid $78 million and LG paid $70 million. The companies deny any wrongdoings but have agreed to close the case with the aforementioned payments.
Bloomberg also notes that $585 million dollars were paid in 2008 and 2009 by LG, Sharp and Chungwa Picture Tubes to close the first phase of the case.
- Source: Bloomberg
Sharp, Samsung, LG pay $388 million in cartel case
