LCD makers hit with lawsuit for alleged price-fixing

By Mary Ellen Podmolik
Posted Aug. 11, 2010 at 3:24 p.m.

The Illinois Attorney General’s office said it filed suit Tuesday in Cook County Circuit Court against 22 major companies for allegedly fixing the prices of liquid crystal display screens used in computers, televisions and cell phones.

The companies named in the lawsuit include Hitachi, Ltd., Epson Imaging Devices Corp., LG Display Co., Samsung Electronics Co., Ltd., Sharp Corp., and Toshiba Corp.

In addition to seeking to stop the alleged activity, the suit asks the court to award as damages the overcharges paid on purchases of the affected items.

The companies, according to court documents, control 90 percent of the sales of LCD screens in the United States. The suit alleges that top executives of the companies would regularly meet in secret on a monthly or quarterly basis to set minimum prices, price targets and increases and the prices to be charged for specific screens and screen sizes.

In the past week, the attorneys general of both New York and Florida also have filed price-fixing lawsuits against LCD makers, charging them with violating their state’s antitrust laws.

In March, Dell Inc., filed its own suit alleging price-fixing of LCD displays against Sharp Corp., Hitachi Ltd., and Toshiba Corp., among other companies.

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One comment:

  1. David Wexler Aug. 11, 2010 at 5:36 pm

    I assure you that those 6 companies couldn’t agree on the weather let alone price fixing. LCD sets sell in the US at such low prices I can’t believe anyone would believe they came to any kind of agreement