New York's attorney general said several electronics companies
in Asia, including Sharp Corp. (SHCAY, 6753.TO) and Samsung
Electronics Co. (SSNHY, 005930.SE), agreed to an over $550 million
settlement involving allegations of price-fixing liquid crystal
display screens.
It is the latest development in a large antitrust investigation
into makers of LCD display panels, which are used in computer
monitors and notebooks, televisions, and mobile phones. Companies
affected by the alleged LCD price-fixing conspiracy are some of the
largest computer and television manufacturers in the world,
including Apple Inc. (AAPL), Dell Inc. (DELL) and Hewlett-Packard
Co. (HPQ).
Tuesday, Attorney General Eric T. Schneiderman said that as part
of the multistate settlement, seven companies agreed to pay $538
million to settle antitrust claims, of which $501 million would be
used to refund qualifying customers and the rest to compensate
government and other public entities for damages from buying thin
film transistor LCD panels. Separately, five of those companies
agreed to pay more than $14 million to settle civil fine and
penalty law claims.
The companies were Chimei Innolux Corp. (CMLXY, 3481.TW),
Chunghwa Picture Tubes Ltd. (2475.TW), Epson Imaging Devices Corp.,
HannStar Display Corp. (6116.TW), Hitachi Displays Ltd., Samsung
Electronics and Sharp, as well as certain affiliated entities of
those companies.
Consumers residing in 24 states and the District of Columbia who
purchased products containing the panels from Jan. 1, 1999, through
Dec. 31, 2006, qualify for partial refunds.
According to the complaint, the manufacturers of thin film
transistor LCD panels, together with their U.S. affiliates,
conspired to fix prices of TFT-LCD panels and then sell them at
those prices.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com