Canada Hands Out Fines in LCD Price Fixing Suit

Courts in Ontario, Quebec and British Columbia in Canada have secured agreement from five of the major consumer electronics companies involved in the alleged LCD price fixing cartel which took place between 1998 and 2006. While acknowledging that the companies have not admitted taking part, the Canadian authorities said that they have agreed to pay a total of $37 million to settle a class-action lawsuit.

Samsung Electronics and Samsung Electronics Canada agreed to pay $21.25 million, while Innolux agreed to pay $10 million. Japan Display Inc, which existed as Hitachi Displays Ltd during the time of the alleged price fixing, will pay $3.15 million on behalf of Hitachi Ltd, Hitachi Canada and Hitachi Electronics Devices in the US. Chunghwa Picture Tubes and Epson Imaging Devices agreed to pay $2 million and $1.2 million respectively. The case is continuing against LG Philips LCD, Sharp, Toshiba, AU Optronics and Hannstar Display.

Canadian law firm, Siskinds LLP, had launched the suit on behalf of consumers who had purchased LCD panels or products, regardless of the brand, between 1998 and 2006. As a result, consumers making a valid claim are expected to receive a minimum payment of $25.