Sharp, Samsung, and half a dozen other liquid crystal display (LCD) panel makers may have colluded to fix prices earlier in the decade, according to claims brought on by a class action lawsuit. The display makers agreed to settle the case for a combined $388 million, of which Sharp, Japan's largest panel maker, will fork over $105 million.
According to Bloomberg, Samsung's portion comes to $82.7 million. Samsung is the world's leading TV maker in terms of volume and sales. Chimei Innolux Corp., which is the biggest display panel maker in Taiwan, will pony up $78 million.
These latest proceedings are likely the last in what's been an ongoing price fixing saga. The companies involved are accused of jacking up prices for displays used in TVs and computer monitors sold between 1999 and 2006. Prior to this class action settlement, LG, Chunghwa Picture Tubes, and Sharp had admitted guilt following a U.S. Justice Department investigation and agreed in 2008 and 2009 to pay $585 million in criminal fines, Bloomberg reports.
As part of the class action settlement, all eight companies denied any wrongdoing.