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Thursday, September 19, 2019

Multiple technology companies OK settlement after price-fixing allegations

By Mark Iandolo | Apr 1, 2016

SAN FRANCISCO (Legal Newsline) — California Attorney General Kamala D. Harris has announced preliminary settlements that resolve allegations that LG, Hitachi, Panasonic, Toshiba and Samsung fixed prices on Cathode Ray Tubes in televisions and TV monitors from 1995 to 2007 in order to raise prices worldwide.

Harris’ office believes the alleged price fixing scheme caused damage to California consumers and government entities because they bought what turned out to be overpriced televisions and computers.

“LG, Hitachi, Panasonic, Toshiba and Samsung deliberately targeted the U.S. market to raise prices for televisions and computers worldwide,” Harris said. “These settlements bring justice and relief to California consumers and end the malicious practice of price-fixing by these companies.”

The companies will pay $4.95 million to resolve the allegations of overcharging. The settlement requires that they pay back those affected by their alleged illegal profits. It also provides injunctive relief, forcing each company to develop compliance training and reporting to better follow laws and regulations.

California consumers or sole proprietorships that purchased at least one television or computer between 1995 and 2007 can apply for funding, with a minimum guarantee of $25.

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