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FTC financially supports class action lawsuit against LG and Samsung

 |  January 24, 2012

Korea’s Fair Trade Commission threw its financial support behind the Green Consumer Network’s proposed class-action lawsuit against Samsung and LG. The basis for the watchdog’s decision lies in its belief that previous fines imposed on Samsung and LG’s price-fixing (25.81 billion won and 18.83 billion won, respectively) insufficiently deterred anticompetitive behavior.

The support pledged amounts to 100 million won, about $88,700, and will be used to find more plaintiffs by the end-of-February deadline.

Source: Korea Times


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