Florida to sue major LCD makers for price fixing


Florida Attorney General Bill McCollum said on Aug. 10 he is suing the world’s biggest makers of liquid crystal display screens for engaging in a “conspiracy at the highest level” to fix prices, becoming the second U.S. state to do so, Reuters reports. The lawsuit, a civil action to be filed in a California federal court, alleges the defendants “conspired to prevent competition and to increase prices” for TFT-LCD panels, the most common form of LCD panels used in desktop monitors, laptop screens, flat-panel televisions, and other electronic devices. McCollum’s announcement came days after New York Attorney General Andrew Cuomo filed a similar lawsuit on Aug. 6, alleging a decade of price fixing by major Japanese, South Korean, and Taiwanese LCD makers and by their U.S. units. “This massive conspiracy allegedly resulted in artificially and illegally inflated prices of certain LCD panels and the products that contain them at the expense of Floridians and governmental entities,” said McCollum, who—like Cuomo—is running for governor in his state. Among the defendants are well-known international LCD makers such as Samsung Electronics Co. Ltd., AU Optronics Corp., Hitachi Ltd., LG Display Co., Sharp Corp., and Toshiba Corp., the Florida attorney general’s office said. It noted that some of the defendants and their employees had already been indicted by the U.S. Department of Justice and had paid over $890 million in criminal fines…

Click here for the full story

Sign up for our K-12 newsletter

Newsletter: Innovations in K12 Education
By submitting your information, you agree to our Terms & Conditions and Privacy Policy.

Want to share a great resource? Let us know at submissions@eschoolmedia.com.

New AI Resource Center
Get the latest updates and insights on AI in education to keep you and your students current.
Get Free Access Today!

"*" indicates required fields

Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
Email Newsletters:

By submitting your information, you agree to our Terms & Conditions and Privacy Policy.

eSchool News uses cookies to improve your experience. Visit our Privacy Policy for more information.