Toshiba Reaches $13.5M Settlement in CRT Price-Fixing Case
By Mike Holter
Toshiba Corp. reached a $13.5 million class action lawsuit settlement over allegations it conspired with other electronics makers to fix the prices of cathode ray tubes, which were used in TV and computer monitor screens before being largely replaced with liquid crystal and plasma displays.
The Toshiba cathode ray tubes settlement will resolve a consolidated class action lawsuit, titled In Re: Cathode Ray Tube (CRT) Antitrust Litigation, alleging that Toshiba, Samsung, Hitachi and others conspired to fix the prices for CRTs and to allocate markets and customers in the United States from March 1, 1995 through November 25, 2007, in violation of the Sherman Antitrust Act.
Four settlements in the CRT price-fixing MDL have been preliminarily approved with defendants Chungwa, Philips, Panasonic and LG Electronics, making the Toshiba settlement the fifth to be reached in the litigation.
Details of how the proposed $13.5 million class action settlement will be distributed to Class Members were not immediately available.
The case is In re: Cathode Ray Tube (CRT) Antitrust Litigation (MDL No. 1917), Case No. 7-cv-05944, U.S. District Court for the Northern District of California.
Updated February 20th, 2013
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