Wed, May 02, 2012 - Page 10 News List

LG display settles price-fixing claims with US localities

Bloomberg

LG Display Co reached a settlement with eight US states and consumers over claims that the company colluded with other makers of LCDs to fix prices.

The company said on Monday in a regulatory filing that it reached an agreement in principle with a class of so-called indirect purchasers and with the attorneys general of Arkansas, California, Florida, Michigan, Missouri, New York state, West Virginia and Wisconsin. Terms of the settlement, which must be approved by a judge, were not disclosed.

The settlement doesn’t resolve claims by Illinois, Mississippi, Oklahoma, Oregon, South Carolina and Washington, according to the filing.

Sharp Corp, Samsung Electronics Co and five other makers of thin-film-transistor LCD panels used in computers and televisions agreed in December last year to pay US$538.6 million to settle antitrust claims by indirect purchasers. The cases are consolidated in federal court in San Francisco. A jury trial is scheduled to start this month.

Joseph Alioto, a lawyer for the class-action plaintiffs, said that all panel makers have now agreed to settle with the consumers, including Hsinchu, Taiwan-based AU Optronics Corp (友達光電) and Tokyo-based Toshiba Corp, which were not part of the settlement announced in December.

The terms of the settlement will be disclosed in court filings seeking preliminary approval, Alioto said in a telephone interview.

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