New York Attorney General Andrew Cuomo has sued several major suppliers of liquid crystal display screens used in computers, televisions and cell phones, claiming consumers paid too much because of price fixing. Previously, some of the companies settled federal charges. The New York suit was filed in state court in Manhattan.
The suit seeks damages and restitution to state and local governments, along with penalties for actions from 1996 to 2006 by companies in Japan, Korea, and Taiwan and their U.S. divisions. It claims the cartel dominated the $70 billion market, company representatives met regularly, and the scheme cost New Yorkers “hundreds of millions of dollars.” Defendants are Samsung Electronics, Sharp, Toshiba, Hitachi Displays, LG Display, AU Optronics, Chi Mei, CMO Japan, and U.S. affiliates.
Source: USA Today
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