Toshiba, Sharp, others sued for LCD price fixing
updated 08:00 am EDT, Fri June 17, 2011
Retail stores sue LCD makers for LCD price fixing
Retail store PC Richard & Son Inc. has sued Toshiba and Sharp, along with 13 other LCD makers for allegedly conspiring to fix prices of the screens, BusinessWeek reported on Friday. The complaint, filed in Brooklyn, New York, states that the companies met or communicated to agree to LCD product prices and how many each would produce since 1996. The suit was also filed by ABC Appliance and Marta Cooperative of America.
Seven of the LCD makers named have admitted to wrongdoing and paid out millions of dollars in criminal fines, the lawsuit states. Toshiba said it's looking into the matter, while Sharp hasn't commented on the issue.
Best Buy last year sued display makers for the same reason last year. It's a common complaint, with plenty of history. Hitachi paid a $31 million fine over two years ago. The New York Attorney General also sued a number of LCD makers for allegedly fixing the prices of LCD screens in mobile electronics devices.
