LITTLE ROCK — Three manufacturers of flat-panel liquid crystal display screens have agreed to pay $571 million to 25 states, including Arkansas, to settle a lawsuit over alleged price fixing, Attorney General Dustin McDaniel said Thursday.
Some of the defendants in the lawsuit reached settlements in December. Thursday’s settlements with AU Optronics, LG Display and Toshiba resolve the remainder of the claims and make a total of $692 million in restitution available to eligible consumers, businesses and government entities, McDaniel said.
The companies also agreed to pay Arkansas $1.2 million to resolve claims brought against them under the Arkansas Deceptive Trade Practices Act. The money will go to the state treasury.
Other companies named in the suit include Chimei Innolux, Chi Mei Optoelectronics, HannStar Display, Hitachi, Samsung and Sharp. The companies have not admitted any wrongdoing.
The lawsuit, filed in August 2010, alleged that top executives of several companies held numerous secret meetings between 1999 and 2006 for the purpose of exchanging information and setting prices on LCD panels. The panels were used in televisions, computer monitors and other electronic devices.
Independent reporting for Pine Bluff & Jefferson County since 1879.
Consumers who bought products with LCD panels manufactured by the companies between Jan. 1, 1999, and Dec. 31, 2006, may be eligible for restitution, McDaniel said.
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On the Net:
To register to receive reimbursement:
www.lcdclass.com