TV-screen makers to pay $553M settlement

12/28/2011

ALBANY, N.Y. — Seven companies based in Asia are to pay $553 million to settle claims by officials in eight states — including Michigan — that they conspired to inflate prices for liquid-crystal display screens used in televisions and computer monitors, New York Attorney General Eric Schneiderman said Tuesday.

The agreement provides $501 million for partial refunds for consumers in 24 states and the District of Columbia who purchased products with thepanels from 1999 through 2006.

Chi Mei Innolux Corp., Chunghwa Picture Tubes Ltd., Epson Imaging Devices Corp., HannStar Display Corp., Hitachi Displays Ltd., Samsung Electronics Co. Ltd., and Sharp Corp. and their U.S. affiliates denied responsibility and said they settled to avoid the cost of protracted litigation.

A process for applying for the partial refunds is not in place.