Toshiba will pay $87 million for price fixing
A California jury decided Tuesday that Toshiba Corp. is guilty of price fixing and must pay a total of $87 million in damages.
July 05, 2012 at 06:33 AM
3 minute read
The original version of this story was published on Law.com
A California jury decided Tuesday that Toshiba Corp. is guilty of price fixing and must pay a total of $87 million in damages.
Customers brought a class action suit in which they accused the electronics company of engaging in anti-competitive practices and conspiring with other companies in the liquid crystal display (LCD) market to fix prices of LCD products. Most of the other companies settled the allegations against them, but Toshiba decided to take the case to trial.
Of the $87 million Toshiba must pay, $70 million will go to customers who bought finished LCD products, and $17 million will go to manufacturers that used LCD panels, court documents said.
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