After the $585m government fine for price-fixing, Sharp, Samsung and other LCD makers now must pay $388 million to settle the class-action suit from end users.
The companies won’t admit to the crime, but Sharp, Samsung, Chimei Innolux, LG and four other LCD manufacturers agreed on a settlement in a price fixing case from a 2007 class action lawsuit.
That suit specifically cites LCD panels sold between 1999 and 2006: the companies were alleged to have driven the price up. For that, the group will pay a total of $388 to settle the claims, with Sharp paying out the largest single amount of $105 million – Samsung with $82.7 million, followed by Chimei Innolux with $78 million, and LG with $70 million.
The government gets their big dollar lawsuit…the end-users cash in on a class action…but the integrators and installers get…nothing!
