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Samsung, Sharp, Agree to $538M Price-Fixing Settlement


Irvine, CA: A $538.6 million settlement has been agreed between Sharp Corp., Samsung Electronics Co. (005930) and five other makers of liquid crystal display panels which, if approved, would close claims that the company fixed prices on the panels used in computers and televisions. The attorney generals of eight states, including California, Florida and New York are part of the settlement agreements with the manufacturers.

The antitrust lawsuit claimed that the companies fixed prices of thin-film liquid crystal display panels, between 1999 and 2006, which effectively increased the prices for purchasers of devices such as televisions, notebook computers and monitors.

According to court documents, the panel makers agreed to pay $388 million earlier this month, to settle price-fixing claims by direct buyers of the products as part of a series of cases consolidated in federal court. Under the new agreement, roughly $501 million will be available for partial refunds to consumers and about $37 million to compensate governments and other public entities for damages, Bloomberg reports.

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Published on Dec-27-11

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READER COMMENTS

Posted by
Jerome Edwards
on
I purchased a sharp Aquos LE847U and a Samsung 48"

Posted by
Natasha Stanfield
on
I have 3 Samsung TVs and a phone

Posted by
Zeb Ruffin
on
Dear sirs, I have had at 3 Samsung phones and my wife two I know of. Also purchased 2 Sharp TVs and haven't received any refund.

Posted by
Maureen Thompson
on
Dear sirs myself and my husband had Samsung phones.

Posted by
Deborah Harrison
on
Bought a Sharp 32" TV in 2006. Paid over 1500.00 at Electronic express for it. They now costs abt 300.00. Still haven't received any money back on the suit.

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