LG Display to pay $380 mn to settle US lawsuit

Jul 13, 2012
LG televisions on display at an electronics show. LG Display, one of the world's largest flat screen makers, said Friday it had agreed to pay $380 million to settle a US case over alleged price-fixing in the liquid crystal display market.

LG Display, one of the world's largest flat screen makers, said Friday it had agreed to pay $380 million to settle a US case over alleged price-fixing in the liquid crystal display market.

The company said in a regulatory filing that it would pay the amount to US consumers and state governments to settle the class-action case which was lodged in 2007.

LG Display, the world's second biggest LCD after , denied any wrongdoing but said it agreed to settle the case to avoid "the expense and burden of protracted litigation".

It was one of several Asian companies, including Samsung and Japan's Toshiba, which were accused of conspiring to fix LCD panel prices between 1996 and 2006.

Samsung has settled the case by agreeing to pay $240 million.

Explore further: Strong iPhone 6 demand boosts Taiwan export orders

add to favorites email to friend print save as pdf

Related Stories

Samsung, Sharp in LCD price-fixing settlement

Dec 27, 2011

South Korea's Samsung, Japan's Sharp and five other Asian firms have agreed to a $553 million settlement for illegally fixing liquid crystal display prices, New York state's attorney general said Tuesday.

Asian firms to pay $571 mn more in US LCD case

Jul 12, 2012

Three major Asian manufacturers have agreed to pay fines of $571 million to US states as part of the ongoing case on price-fixing of LCD displays for electronic devices, officials said Thursday.

S. Korean antitrust agency fines LCD makers $175m

Oct 30, 2011

Seoul's antitrust agency said on Sunday it had fined 10 of the world's leading flat panel makers in South Korea and Taiwan a total of 194 billion won ($175 million) for price fixing.

SAMSUNG Electronics Regains No. 1 Spot in LCD Market

Dec 20, 2004

Samsung Electronics regained the No. 1 position in the global liquid crystal display (LCD) market last month from LG.Philips LCD, according to the Texas-based display market research firm, DisplaySearch. The electronics gian ...

Samsung unit fined $32 mn for price-fixing

Mar 18, 2011

A unit of Korean conglomerate Samsung was fined $32 million dollars for involvement in an Asian price fixing ring for a key computer monitor component, the US Justice Department said Friday.

Recommended for you

MasterCard, Zwipe announce fingerprint-sensor card

Oct 18, 2014

On Friday, MasterCard and Oslo, Norway-based Zwipe announced the launch of a contactless payment card featuring an integrated fingerprint sensor. Say goodbye to PINs. This card, they said, is the world's ...

Apple starts iPhone 6 sales in key China market

Oct 17, 2014

Apple began selling its latest iPhone in China Friday, nearly a month after other major territories due to a licence delay by regulators, but it faces a tough battle with rivals led by Samsung in the crucial ...

Microsoft CEO launches diversity training effort

Oct 17, 2014

(AP)—Microsoft CEO Satya Nadella has again apologized to employees and announced in a company-wide memo that all workers will receive expanded training on how to foster an inclusive culture as he works to repair damage ...

Arguments made in ex-dictator's suit against game

Oct 17, 2014

(AP)—A judge has heard arguments from lawyer and former New York City Mayor Rudy Giuliani calling for the dismissal of a lawsuit filed against video game giant Activision by former Panamanian dictator Manuel Noriega.

User comments : 2

Adjust slider to filter visible comments by rank

Display comments: newest first

Jimee
not rated yet Jul 13, 2012
Gouge the consumer to pad multi-hundred million dollar salaries for greedy, sociopathic industrialists, while their workers get $3 a day and die young? Hooray for an unregulated free market.
Bowler_4007
not rated yet Jul 14, 2012
as if tvs and monitors don't cost enough already and $3 a day, seriously? is their a single decent company out there?