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07-13-2012, 12:44 PM #1
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
07-13-2012, 12:50 PM #2
Can consumers collect on this?War is my mission. Killing is my ambition.
07-13-2012, 12:54 PM #3
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.
07-13-2012, 01:15 PM #4
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
07-13-2012, 09:50 PM #5
07-13-2012, 11:52 PM #6
07-14-2012, 04:20 AM #7
Wasn't the LCD price fix issue mostly for tv LCD?
07-14-2012, 11:47 AM #8
Last edited by Scotty Manley Silberhorn; 07-14-2012 at 11:54 AM.
07-15-2012, 12:30 AM #9
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.
Last edited by Agent929; 07-15-2012 at 12:33 AM.War is my mission. Killing is my ambition.
07-15-2012, 05:48 AM #10
07-15-2012, 08:25 PM #11