| Thread Tools |
5th July 2012, 06:25 | #1 |
[M] Reviewer Join Date: May 2010 Location: Romania
Posts: 148,597
| Toshiba hit by price fixing cash Japan's Toshiba is liable for $87 million in damages after a US Jury decided that it fixed prices in the liquid crystal display (LCD) market. Tosh's customers brought a civil class action lawsuit against Toshiba and other LCD producers, alleging anticompetitive practices. The other defendants settled the case, while Toshiba decided to take it to trial. Sadly for Tosh that seems to have backfired and now it must pay $70 million to consumers who bought finished products, and $17 million to manufacturers that used LCD panels. Toshiba insists that it did not act illegally in the LCD market, and that it would pursue "all available legal avenues" to correct the verdict. "While Toshiba appreciates the jury's time and effort, Toshiba believes that the jury's verdict is in error as to the finding of wrongdoing," the company told Reuters. AU Optronics was convicted in March on criminal charges related to the LCD price-fixing scheme. In that case prosecutors accused AUO executives of meeting more than 60 times with competitors at luxury hotels to fix prices of LCD panels. The court claims that the conspiracy had cost the US economy billions of dollars. Several other LCD manufacturers settled criminal charges. Toshiba was never summoned to answer for it. http://news.techeye.net/hardware/tos...ce-fixing-cash |
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Toshiba hit for $87 million in LCD price fixing verdict, maintains innocence | Stefan Mileschin | WebNews | 0 | 4th July 2012 09:22 |
E-book price fixing trial set for 2013 | Stefan Mileschin | WebNews | 0 | 25th June 2012 07:55 |
Hitachi exec pays up for price fixing | Stefan Mileschin | WebNews | 0 | 2nd May 2012 08:18 |
AUO to contest price-fixing guilty verdict | Stefan Mileschin | WebNews | 0 | 15th March 2012 07:05 |
LCD Makers Settle Price-Fixing Case | Stefan Mileschin | WebNews | 0 | 29th December 2011 10:00 |
LCD Makers To Pay $388M in Price Fixing Suit | Stefan Mileschin | WebNews | 0 | 9th December 2011 07:18 |
EU Slaps Chip Vendors with Penalties for Price-Fixing | jmke | WebNews | 0 | 20th May 2010 08:37 |
Elpida Guilty of DRAM Price Fixing | jmke | WebNews | 1 | 31st January 2006 17:27 |
Samsung to pay $300 million for price fixing | Sidney | WebNews | 0 | 14th October 2005 06:15 |
Infineon admits to DRAM price fixing | jmke | WebNews | 10 | 16th September 2004 23:58 |
Thread Tools | |
| |