Toshiba fined in US antitrust case

Jul 03, 2012
Models of Japan's Toshiba Corp. pose by LCD displays in 2006. Japanese electronics giant Toshiba said Tuesday a jury has ordered it to pay $87 million in a price-fixing case on LCD displays, but that it ultimately may not end up paying damages.

Japanese electronics giant Toshiba said Tuesday a jury has ordered it to pay $87 million in a price-fixing case on LCD displays, but that it ultimately may not end up paying damages.

A company statement said the jury in San Francisco ordered the fine "due to alleged antitrust practices in the LCD business."

But it added that "given credits for settlements by other defendants, Toshiba expects that it will not have to pay any damages as a result of this verdict, even after trebling under US ."

The case stems from a class action suit filed in 2007 by purchasers of and related products in the United States.

"Toshiba has consistently maintained that there was no illegal activity on its part in the LCD business in the United States, and Toshiba continues to hold that view," the statement said.

Toshiba added that it "believes that the jury's verdict is in error as to the finding of wrongdoing on Toshiba's part. Toshiba plans to pursue all available legal avenues to correct that finding."

Several other companies have been charged in the case, and Taiwan's was among those found guilty.

are used in computers, laptops, televisions, smartphones and other gadgets.

Rival LCD makers met in secret in karaoke bars, tea rooms, and hotel conference rooms in Taiwan to set prices rather than letting market forces prevail, according to US officials.

Explore further: Taiwan's Hon Hai faces difficult year, despite profit leap: analysts

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unknownorgin
not rated yet Jul 04, 2012
US trade policy has distoted market forces and caused the failure of many US industrys by allowing unlimited importing of products so this is really just about collecting revenue.

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