TV display makers settle LCD price-fixing charges

In this March 18, 2011 file photo, New York Attorney General Eric Schneiderman answers question during a news conference in his New York City office. AP

(AP) ALBANY, N.Y. - New York's attorney general says three Asia-based companies have agreed to pay $571 million to settle claims by officials in eight states that they conspired to inflate prices for liquid crystal display screens used in televisions and computer monitors.

The agreements signed Thursday with AU Optronics Corp., LG Display Co. Ltd., Toshiba Corp., and U.S. affiliates follow a $553 million settlement in December with seven other manufacturers from Japan, Korea, and Taiwan accused of fixing prices for thin film transistor LCD panels from 1999 to 2006.

New York AG Eric Schneiderman says about $692 million will be available for partial refunds to consumers in 24 states after court approval. The settlements conclude the lawsuit against the companies.

The states involved are Arkansas, California, Florida, Michigan, Missouri, New York, West Virginia, and Wisconsin.




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