AU Optronics and other three companies reached a settlement on the manipulation of LCD price litigation

It is reported that Taiwan AUO, Toshiba and LG Electronics of South Korea have agreed to pay a total of 571 million US dollars in order to settle their legal actions in the liquid crystal display (LCD) panel market.

Joseph Alioto, a San Francisco lawyer who initiated a class action lawsuit against the three companies, said the fine included $27.5 million in civil penalties paid to eight state governments. Each consumer who filed a claim would receive at least $25 in compensation. The plaintiff may include at least 20 million consumers.

The class action alleges that this was a carefully planned manipulation of LCD prices from 1996 to 2006, resulting in buyers paying higher prices for TVs, notebooks and other electronic products.

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