CHICAGO — The Cook County Circuit Court recently approved the distribution of more than $190 million to Illinois residents, as part of settlements reached over the past several years between Illinois Attorney General Lisa Madigan and manufacturers of liquid crystal display (LCD) monitors.
The settlements reached with the attorney general's office stem from a lawsuit filed by Madigan against manufacturers of LCD monitors installed in electronic devicies such as TV's, notebook computers, cell phones and MP3 players. The suit says consumers who purchased these products between 1998 and 2006 paid significantly higher prices due to the companies allegedly fixing prices for screens used in the electronic devices rather than the prices being set through normal competition.
“These payments provide a long-deserved remedy to Illinois residents and businesses who overpaid for LCD screens because of price-fixing,” Madigan said in a news release.
The Circuit Court approved the distribution to residents in Illinois who filed claims on or before Oct. 6, 2016, according to the attorney general's office. The settlement also includes businesses, some of the state's counties, municipalities and schools that turned in around 18,500 valid claims totaling nearly 5 million LCD products, which were purchased during the designated time period.
Also, according to the attorney general's office, Illinois consumers and businesses can expect to recover about $67 for a TV, $51 for a monitor, $41 for a notebook computer and $5 for mobile phones or small device. Settlement checks are scheduled to be issued within the next few months.