Missouri AG reaches settlement with LCD manufacturers

By Ashley Perry | Oct 22, 2014

Attorney General Chris Koster announced a settlement with several LCD manufacturing companies to be dispersed to Missouri consumers.

Attorney General Chris Koster recently announced settlements with several LCD manufacturing companies.

The settlements will distribute more than $24 million to consumers who purchased LCD televisions, laptops, and desktop computers from January 1, 1999 to December 31, 2006.

Consumers who filed claims will receive between $43 and $86 for each purchase claimed. More than 25,000 Missouri consumers filed claims in 2012. $2.2 million collected in civil penalties will be donated to Missouri's School Fund.

Koster, along with government officials from Arkansas, California, Florida, Michigan, New York, West Virginia, Wisconsin and the federal government, began investigating suspicious activities in the LCD industry several years ago. According to the findings of the investigation, secret meetings were allegedly held by company executives to raise the prices of LCD screens.

AU Optronics Corporation, Chimei Innolux Corp., Chunghwa Picture Tubes Ltd., Epson Imaging Devices Corporation, HannStar Display Corporation, Hitachi Ltd., LG Display Co. Ltd., Samsung Electronics Co. Ltd., Sharp Corporation and Toshiba Corporation and its affiliates were involved in settlements. The settlements exceeded $1 billion, and resulted in several executives serving time in prison.

"We are pleased that this litigation has drawn to a close and that Missouri consumers who overpaid for LCD displays will receive their settlement payments within the month," Koster said.

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