The plaintiffs in the case allege that Samsung, Hitachi, Sharp and others “engaged in a worldwide, multiyear conspiracy to fix prices and hinder competition related to TFT-LCD panels, which are in TVs, notebooks and monitors.”
LCD Makers to Pay $539M to Settle Civil Antitrust Suits
By Ginny LaRoe, The Recorder
December 23, 2011
SAN FRANCISCO — On the heels of a plaintiff-friendly ruling in the TFT-LCD antitrust litigation, a group of manufacturer defendants is poised to settle for $539 million.
Co-lead plaintiffs’ counsel Francis Scarpulla of Zelle Hofmann Voelbel & Mason and Joseph M. Alioto of Alioto Law Firm filed a motion for preliminary settlement approval on behalf of indirect purchaser plaintiffs and state attorneys general on Friday. They asked U.S. District Judge Susan Illston to sign off on a deal to resolve price-fixing claims against Samsung, Hitachi, Sharp, Chimei, Chunghwa, Epson and HannStar.
Plaintiffs allege the makers engaged in a worldwide, multiyear conspiracy to fix prices and hinder competition related to TFT-LCD panels, which are in TVs, notebooks and monitors.
The filing comes after Illston earlier this month rejected defendants’ renewed bid to toss the case for lack of antitrust standing on the part of indirect purchaser plaintiffs, saying the plaintiffs alleged injuries and the direct link between defendants’ alleged anti-competitive conduct “place this case squarely within the type of suit the antitrust laws were meant to address.”
Earlier this year a group of defendants settled with direct purchaser plaintiffs for around $388 million.
Plaintiffs asked for a Jan. 20 hearing before Illston, who presides over the consolidated multidistrict litigation and related criminal action.
Minami Tamaki partner Jack Lee is the court-appointed liaison in the action.