Class Counsel Announce Filing Of Consolidated Complaint Charging Leading Manufacturers Of Liquid Crystal Displays Operated A Global Cartel To Fix Prices For Over A Decade

Class counsel for businesses and individuals that purchased Thin Film Transistor Liquid Crystal Display (TFT-LCD) products directly from manufacturers announced that last week plaintiffs filed a consolidated class action complaint charging defendants with operating a global cartel to fix the prices of LCDs sold in the United States. “After initial introduction, components for consumer electronics products are typically characterized by downward pricing trends,” stated plaintiffs’ counsel Richard M.

Heimann of Lieff Cabraser Heimann & Bernstein, LLP. “This has not always been the case with TFT-LCDs. For the past decade, we have seen price manipulation including periods of substantial price increases. Amongst the reasons for this are that the top manufacturers agreed to fix and maintain prices and to restrict supply.”

“Despite the enormous size of the TFT-LCD industry, over $100 billion, a small group of corporations dominate it and control the price of TFT-LCDs,” explained plaintiffs’ counsel Bruce L. Simon of Pearson Simon Soter Warshaw & Penny, LLP. “Repeatedly these corporations have asserted that a shortage of manufacturing capacity has been the cause of TFT-LCD price increases. Any such shortages, plaintiffs allege, were the result of collusion among defendants to restrict output and artificially increase prices.”

Read the entire story on the source link below.

600450 Class Counsel Announce Filing Of Consolidated Complaint Charging Leading Manufacturers Of Liquid Crystal Displays Operated A Global Cartel To Fix Prices For Over A Decade glassonweb.com

See more news about:

Others also read

The latest version of the world’s largest trade fair dedicated to the glass industry is now complete, but the impact from many of the products and services displayed last week at glasstec will live on for many years.
Research Frontiers Inc. and Israel-based material science company Gauzy Ltd. announced today that Gauzy will be producing SPD-Smart light control film for the entire SPD-SmartGlass industry.
OSG and Heliotrope Technologies Inc. will join forces at the InnoTrans 2018 in Berlin this fall.
Maintenance Free Privacy Glazing Solution for Patient Rooms.
Research Frontiers Inc. and Israel-based material science company Gauzy Ltd. announced today that Gauzy has lead a group that has invested $2 million in SPD-SmartGlass technology company Research Frontiers.
ChromoGenics AB (publ) has signed an agreement with Regal Förvaltning AB to deliver ConverLight® to an office in Uppsala.

From industry

Add new comment