BrainKing - Discussion boards (Politics)

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Politics

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17. July 2012, 00:26:57

Mort

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Subject: Free Enterprise???

LG Display has agreed to pay $380m (£246m) to settle an LCD panel price-fixing case in the US.

The company denied doing anything wrong, but said it had agreed to a settlement to avoid "the expense and burden of protracted litigation".

It was the largest amount paid by any of the 10 companies that have settled the case, including Toshiba, Samsung, Sharp and Hitachi.

They were accused of fixing the prices of LCD panels between 1996 and 2006.

The money will go to US consumers and state governments. The alleged price fixing would have increased the prices of devices using LCD displays such as televisions and laptop computers.

Samsung paid $240m to settle the case in December, while Toshiba is to pay $21m and AU Optronics is to pay $170m.

>>>>>>> But it's ok, they make money. As money makers they are allowed to rip people off.

At least that is the Conservative American view!!