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  • Apple’s LCD Suppliers to Dish Out $1.12 Billion in Price Fixing Settlements


    The big companies in the LCD manufacturing business such as LG and Samsung, will pay out over a billion dollars to settle a price fixing class-action lawsuit. According to The Wall Street Journal, a total of $1.12 billion in damages will be collected from LCD makers, following the latest round of settlements announced this week. LG Display Co. will be paying the largest settlement with a payout of $380 million in damages. Others include AU Optronics Corp, which settled for $170 million, while Toshiba Corp. agreed to pay $21 million. This is all in addition to settlement agreements made earlier in the year by seven other companies such as Samsung, which previously agreed to pay $240 million.

    The prosecutors in the case which began in 2008 asserted that Apple was among a number of device makers who were victims of a price fixing scheme by LCD manufacturers. Supposedly, customers affected by the alleged scheme could receive “substantial amounts” of money, according to the San Francisco-based attorney, Joseph Alioto. Companies who agreed to settle, such as Toshiba and LG, denied any wrongdoings but agreed to settle just to end the ongoing legal dispute.

    Not surprisingly, the companies who have agreed to settle in the case include some of Apple’s most prominent LCD suppliers. These include Samsung and LG, both of which have provided for Apple’s products. Samsung was believed to be the only company to have produced Retina displays for the third-generation iPad at launch earlier in the year and LG was the other manufacturer which jumped in at some point, while having provided LCDs for previous-generation iPads. Once the money is paid out the legal issue should be resolved, at least for now.

    Source: The Wall Street Journal
    This article was originally published in forum thread: Apple’s LCD Suppliers to Dish Out $1.12 Billion in Price Fixing Settlements started by Akshay Masand View original post
    Comments 10 Comments
    1. Agent929's Avatar
      Agent929 -
      Can consumers collect on this?
    1. unison999's Avatar
      unison999 -
      By the time the money trickle down to consumer it would be insignificant.
      Law firm of the class-action lawsuit will create huge bill for their legal battles to take the bulk of the payment, then a few big payout to the people mentioned that started this class action lawsuit. What ever is left gets trickled down to all the consumers they have on their list.
    1. rudyy50's Avatar
      rudyy50 -
      The consumer would get a coupon good for $3 off the next high-end phone you buy.*

      *Two-year agreement required, only one coupon per address, other restrictions apply. For full terms go to www.heckwithconsumers.com
    1. Agent929's Avatar
      Agent929 -
      Quote Originally Posted by rudyy50 View Post
      The consumer would get a coupon good for $3 off the next high-end phone you buy.*

      *Two-year agreement required, only one coupon per address, other restrictions apply. For full terms go to www.heckwithconsumers.com
      Haha nice
    1. rkswat's Avatar
      rkswat -
      Quote Originally Posted by Agent929 View Post
      Can consumers collect on this?
      How were you affected in any way because of this? You would of still paid the same exact price for your iPad or other tablet so no, you can't collect. Stop looking to get something for nothing..... that attitude is what's wrong with the world.
    1. anekin007's Avatar
      anekin007 -
      Wasn't the LCD price fix issue mostly for tv LCD?
    1. Scotty Manley Silberhorn's Avatar
      Scotty Manley Silberhorn -
      Quote Originally Posted by rkswat View Post
      How were you affected in any way because of this? You would of still paid the same exact price for your iPad or other tablet so no, you can't collect. Stop looking to get something for nothing..... that attitude is what's wrong with the world.
      No the problem with this world is companies taking advantage of the little people who buy products. The rich get richer off of their scams. I’m pretty sure the LCD companies still made a profit even after the settlement money is given up.
    1. Agent929's Avatar
      Agent929 -
      Quote Originally Posted by rkswat View Post
      How were you affected in any way because of this? You would of still paid the same exact price for your iPad or other tablet so no, you can't collect. Stop looking to get something for nothing..... that attitude is what's wrong with the world.
      Your a ******* idiot. What's wrong with the world is that there are to many dumb ***** like you in it. I have a ******* TON of LCD products I've just purchased. I actually contribute to the fake economy when your probably stealing your neighbors wifi to post that crap. Don't come at me like that again with a bull **** remark like that when you have no ******* clue at how much **** I own.

      Also. I don't think this post was about your precious piece of **** iPhone or tablet. It was about LCD screens. Holy **** I'm tired of being nice on these forums. I asked a legit question as funny as it may sound.
    1. MMX007's Avatar
      MMX007 -
      Well said! Agent929
    1. Agent929's Avatar
      Agent929 -
      Quote Originally Posted by MMX007 View Post
      Well said! Agent929
      Lol thanks.