About the Office:

MCDANIEL SUES LCD MANUFACTURERS FOR PRICE FIXING

FOR IMMEDIATE RELEASE
TUESDAY, AUGUST 17, 2010

MCDANIEL SUES LCD MANUFACTURERS FOR PRICE FIXING

LITTLE ROCK - Attorney General Dustin McDaniel announced today that he has filed a federal lawsuit against the world's largest manufacturers of liquid crystal display screens, accusing the companies' executives of conspiring to fix the prices of LCD screens used in Arkansas consumers' computer monitors, televisions and other electronic devices.

McDaniel joined the attorneys general of Michigan, Missouri, West Virginia and Wisconsin in the complaint filed in U.S. District Court in California.

The lawsuit is the result of a year-long multistate investigation by McDaniel's office and the other states. The complaint alleges that top executives of several companies held numerous secret meetings from at least 1999 through at least 2006 for the purpose of exchanging information and setting prices on LCD panels. Companies such as Dell, Apple, and Hewlett Packard were among those targeted by the manufacturers' price-fixing scheme.

"Antitrust laws ensure competition, which results in lower prices for consumers," McDaniel said. "When companies come together to agree to raise prices and disregard those laws, this Office will take action to protect Arkansas consumers."

According to the lawsuit, the illegal overcharges were ultimately borne by consumers in Arkansas and elsewhere. The lawsuit seeks monetary damages, civil penalties and injunctive relief under the Arkansas Unfair Practices Act and the federal Sherman Act.

The defendants named in the complaint include Samsung Electronics Co., LG Display Co., AU Optronics Corp., Chimei Innolux Corp., HannStar Display Corp., Sharp Corp. and Hitachi Displays, Ltd.

Several of the defendant companies and executives of those companies have already pleaded guilty to federal criminal antitrust charges brought by the U.S. Department of Justice, resulting in more than $890 million in criminal fines.

###

Connect With Dustin
connect with Dustin YouTube Facebook Twitter Flicker

empty