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Wednesday, 04 July 2012 13:19

Toshiba found guilty of LCD price fixing

Written by Nedim Hadzic

toshiba logo_new

$87 million it won't have to pay

Japanese company Toshiba has been fined over price fixing of LCDs. Interestingly enough, the company revealed that it will not be at a loss due to payments from earlier settlements.

The fine of $87 million includes $17 million to manufacturers and $70 million to consumers. The company is unconcerned though, due to settlements already paid in other class-action lawsuits.

Even though antitrust laws in the States apparently stipulate tripling of overcharge damages, Toshiba anticipates it will be fine. Additionally the company maintains its innocence and plans to "pursue all available legal avenues to correct [court's] finding."

More here.

Last modified on Wednesday, 04 July 2012 14:05

Nedim Hadzic

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