Toshiba fined for LCD price-fixing
Toshiba has been fined $87m for conspiring to fix the price of LCD panels in the US. Toshiba is contesting the decision.
The decision came after a trial by jury in a civil class action lawsuit in a US District Court in San Francisco. Under US anti-trust law the fine is automatically tripled.
In 2011, seven LCD manufacturing companies. Hitachi, Samsung, Sharp, Chimei Innolux, Chunghwa, Epson and HannStar, settled with consumers and retailers to settle price-fixing claims, paying a collective total of nearly $1bn.
Toshiba didn’t join in the settlement and decided to fight the allegations.
Back in 2007, in a criminal prosecution for LCD price-fixing, Sharp, Chunghwa and LG all pleaded guilty. Another defendant AU Optronics pleaded not guilty, fought the case, and were found guilty.