AU, LG Display, Toshiba Settle Antitrust Case
07/11/2012| 09:26pm US/Eastern
AU Optronics Corp. (>> AU Optronics Corp.), LG Display Co. (>> LG Display Co Ltd) and Toshiba Corp. (>> Toshiba Corporation) will pay $543.5 million to resolve allegations they conspired to fix prices of flat-screen panels, Bloomberg News reported on its website Thursday, citing Joseph Alioto, a San Francisco attorney and co-lead counsel representing screen purchasers suing the companies.
Mr. Alioto didn't give details of individual payments by the companies, but said the money would be available to consumers in 24 states who overpaid for electronics due to the alleged price-fixing, Bloomberg reported. The companies would also pay $27.5 million in civil penalties to eight states, bringing the total settlement to $571 million, he said.
Spokeswomen for AU Optronics and LG Display didn't immediately return e-mail messages seeking comment, while an attorney for Toshiba declined to comment, Bloomberg reported.
Full story: http://www.bloomberg.com/news/2012-07-11/auo-lg-toshiba-settle-antitrust-case-lawyer-says.html