On July 11, 2012, the Court granted final approval to seven Settlements totaling over $538 Million. To review the Court’s Order click here.  Additional Settlements have now been reached with the last three Defendants totaling $543.5 Million and premilinary approval for these three Settlements was granted on July 31, 2012.  To review the Settlement Agreements, click here.  The combined amount of all ten Settlements is almost $1.1 Billion.

According to the lawsuit:  “Sharp, Hitachi and Samsung agreed to fix prices and limit the supply of LCD panels starting some time before 1999.   As production increased in South Korea and Taiwan, the conspiracy expanded to the other manufacturers. The companies took turns holding meetings during which vice-presidents and other executives and managers exchanged information on prices, customer demand, supply and shipments.
The participating defendants typically discussed how to raise prices and reached agreements on target prices, floor prices, and/or price ranges for . . . LCD panel sales,” the lawsuit alleges. “They also discussed their pricing regarding specific customers and reached agreements as to how to deal with customers’ requests for discounts. The participating defendants also typically reached agreements to limit the production of . . . LCD panels by setting target production levels, delaying capacity expansion, slowing assembly line volume . . . and other mechanisms.”  After the U.S. Department of Justice prosecuted the manufacturers, Van Hollen and the attorneys general of Missouri, Arkansas, Michigan and West Virginia sued the companies in California.  The settlement releases all claims of indirect purchasers including consumers, businesses and state government in Wisconsin. Companies that purchased LCD panels directly from the manufacturers are still pursuing lawsuits in California.

In 2006, the worldwide market for LCD products was about $70 billion, according to the lawsuit.

Eligible consumers and businesses in 24 states and the District of Columbia may be able to collect $25, $100, $200 or more by answering a few simple questions about the LCD flat screen TVs, monitors, and laptops they bought from 1999 to 2006.

These are the 24 states participating, together with the District of Columbia:  Arizona, Arkansas, California, Florida, Hawaii, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Mexico, New York, North Carolina, North Dakota, Rhode Island, South Dakota, Tennessee, Vermont, West Virginia and Wisconsin.