AU Optronics Corp., LG Display, and Toshiba Corp. have all three agreed to pay a combined $571 million in damages to settle a class-action lawsuit alleging the three were involved in a scheme to artificially drive up the price of liquid crystal display (LCD) panels. That's on top of over $550 million collected from seven other manufacturers earlier in the year, which tallies up to over $1.1 billion in class-action penalties.
There's a good chance you overpaid for a computer monitor or notebook purchased between 1999 and 2006, the time frame in which several display makers were engaged in a price fixing scandal. All but one pleaded guilty and agreed to pay fines of several million dollars, some of which crept into the hundreds of millions. The lone standout? AU Optronics, which was found guilty by a U.S. court.
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