Printed from http://www.electronista.com

Toshiba socked with $87 million fine for LCD price fixing

updated 01:00 am EDT, Wed July 4, 2012

Toshiba sole defendant, co-conspirators settled previously

After two days of deliberations, a California jury has decreed that Toshiba is guilty of conspiracy involving other Japanese, Korean, and Taiwanese LCD manufacturers to keep prices artificially high on LCD panels between 1999 and 2006. Under the findings of the jury, Toshiba is liable for $87 million in damages -- $17 million to businesses and $70 million to consumers. Under antitrust law, defendants can be assessed damages of three times the jury's ruling, or $261 million. Toshiba was the sole remaining defendant in the suit, and claimed to have done nothing wrong.

"Toshiba plans to pursue all available legal avenues to correct that finding," spokesman Julius Christensen said in an email statement. Toshiba has "consistently maintained that there was no illegal activity on its part in the LCD business in the United States," added Christensen

Company lawyers argued the well-documented hotel meetings of executives from various LCD makers were for legitimate reasons. Toshiba also claimed it never made the specific TFT-LCD that was the subject of the price-fixing meetings at the hotel, known as the crystal meetings.

Sharp and Samsung Electronics agreed to pay $927 million in settlements agreed to in December 2011. AU Optronics reached a settlement in March said to be worth up to $1 billion, with LG Display following on May 1 for an undisclosed amount.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Adesso Compagno X Bluetooth keyboard

The shift from typing on physical keyboards to digital versions on smartphones and tablets hasn't been an easy for many consumers. Fro ...

Sponsor

toggle

Most Commented

 
toggle

Popular News