LCD Indirect Purchaser Class Action Settlement Money Expected Fall 2014

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Great news for consumers who filed claims for the LCD indirect purchaser class action settlement: all appeals have been resolved and money could be distributed as early as September or October. Consumers and business who filed valid claims can expect to receive $25, $100, $200 or more based on the number of LCD flat screen TVs, monitors, and laptops they purchased between 1999 and 2006.

Rust Consulting, the Settlement Administrator for the LCD class action settlement, sent email notices yesterday advising claimants that the last of the appeals were dismissed on June 13, allowing Rust to move forward with concluding the necessary procedures to disperse rewards to eligible claimants.

“We are well along in the claim audit/verification process and currently expect that these activities will be completed by the end of August 2014. It is expected that Class Counsel will seek approval from the Court to disburse payment to Claimants soon thereafter. Payments will be sent to Claimants within two weeks of Court approval,” the announcement said.

Class Counsel and the State Attorneys General who joined the LCD settlement plan to request approval from the Court by Oct. 1, 2014, to distribute the funds.

Rust had originally estimated that it could take one to three years for the entire appeal process to finally be concluded.

What is the LCD Class Action Settlement?

The LCD settlement is part of a massive class action lawsuit that accused 10 LCD manufacturers of entering a price-fixing scheme to fix, maintain and raise the prices of LCD panels.  The companies involved in the case are: Toshiba, LG, AU Optronics, Samsung, Sharp, Hitachi, Epson, Chimei, Chunghwa and HannStar.

Under the terms of the LCD price-fixing settlement, the companies will pay a combined $1.1 billion to consumers in 24 states and Washington, D.C. that purchased a laptop, computer monitor, or television with a flat-panel LCD display between Jan. 1, 1999 and Dec. 31, 2006 manufactured by one of these companies.

The deadline to file a claim for the LCD monitor class action settlement was Dec. 6, 2012. However, Class Counsel intends to recommend that the Court accept late claims submitted after the deadline until June 6, 2014.

If you would like to know the status of your claim, email the Notice Administrator at info@lcdclass.com or call the toll-free hotline at 1-855-225-1886. More information can be found at www.LCDClass.com.

Top Class Actions has been reporting on the LCD indirect purchaser class action lawsuit and settlement since 2012. We’ll continue to provide updates as they go out.

If you missed out on the LCD class action settlement, sign up for our free newsletter to receive updates on new class action lawsuits and settlements. You can also check out which class action settlements are still accepting claims in our Open Class Action Settlements section.

The LCD Price-Fixing Class Action Lawsuit Settlement is In re: TFT-LCD (Flat Panel) Antitrust Litigation, MDL No. 1827, U.S. District Court, Northern District of California.

UPDATE 1: A federal judge reportedly gave authorization to distribute the LCD class action settlement funds at a hearing on Oct. 17. 2014, and the checks are likely to be distributed the last week in October. Read more.

UPDATE 2: On Oct. 27, 2014, our readers began reporting that they finally received checks from the LCD panel class action settlement. Some readers have received checks worth hundreds of dollars. Let us know how much money YOU received in the comments section below. Congratulations!