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LG to pay the highest amount to settle US LCD price-fixing Case

in International Business

LG to pay the highest amount to settle US LCD price-fixing Case

LG has agreed to pay USD 380m to settle an LCD panel price-fixing case in the US.

Other LCD makers included in the case included Toshiba, Samsung, Sharp and Hitachi.

The companies were accused of fixing the prices of LCD panels between 1996 and 2006 which would have increased the prices of the devices.

Samsung paid $240m to settle the case in December, while Toshiba is to pay $21m and AU Optronics is to pay $170m.

LG Display still denies doing anything, however, has decided to pay for the settlement to avoid “the expense and burden of protracted litigation.”

The money will go to consumer and statement government in the US.

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