UPDATE: LCD Makers Settle Price-Fixing Claims For More Than $550 Million

New York's attorney general said several electronics companies in Asia, including Sharp Corp. (SHCAY, 6753.TO) and Samsung Electronics Co. (SSNHY, 005930.SE), have agreed to a settlement of over $550 million 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).

Attorney General Eric T. Schneiderman said Tuesday 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 the 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.

Shares of Sharp fell on the Tokyo Stock Exchange on Wednesday, closing down 3.2% at Y688, with some brokerage managers citing payments for the settlement as a contributing factor. The Nikkei 225 Stock Average fell 0.2%.

"It is true that we have reached an agreement with the plaintiffs, but we cannot comment any further because there are still some legal procedures left to be completed," a Sharp spokeswoman said.

Samsung didn't immediately have any comment other than to say it is looking into the matter.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

--Juro Osawa in Tokyo contributed to this article.

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