Samsung, LG and Others Sued for LCD Price Fixing


 

Samsung, LG and six other companies have been sued by Illinois over price fixing of the television and computer monitor panels. The lawsuit that is filed in Chicago claims the companies came together to fix the price and limit production of the cathode-ray tubes from March 1, 1995 to November 25, 2007.

The complaint says company executives “met quarterly to enter long-term price and production agreements and to enforce the price-fixing agreements by resolving disputes amongst the conspirators” and Samsung Display Co. had even pleaded guilty and agreed to pay $32 million for the same.

Spokesperson for Samsung did not comment citing pending legal issues.

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