Several Asian CRT manufacturers have reached a settlement with a US court to pay approximately $528 million to resolve a class action lawsuit alleging that they conspired to fix prices.
The companies named in the action include Samsung SDI, Philips, Panasonic, Hitachi and Toshiba. Consumers who purchased television sets and computer monitors in late 2007 and early 2008 sued various manufacturers who had allegedly been part of an international conspiracy to fix CRT prices.
Samsung SDI agreed to pay $225 million as part of the settlement, while Philips agreed to $175 million and Panasonic $70 million. Taiwan’s Chunghwa Picture Tubes and Korea’s LG have already agreed to pay a total of $35 million. The combined settlement fund will be used to pay eligible claimants in the states involved in the litigation and who purchased a CRT product between 1995 and 2007.
