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U.S.: HP may seek $3B from LCD price-fixers

By  |  December 4, 2012
U.S.: HP may seek $3B from LCD price-fixers

Hewlett-Packard is claiming in a recently filed suit that Chunghwa Picture Tubes Ltd. and Tatung Company of America Inc. cost HP more than $1 billion thanks to the LCD makers’ accused price-fixing from 1998 to 2006. The suit, filed in federal court in San Francisco, is seeking treble damages – suggesting HP may pursue $3 billion – from the overcharges that resulted in the price-fixing. Chunghwa is among the companies that plead guilty in a Justice Department probe into LCD price-fixing schemes; Chunghwa was fined $65 million. The Justice Department’s findings also lead to class action civil lawsuits from LCD screen consumers. Hewlett-Packard announced last month it is taking an $8.8 billion writedown in relation to allegations the company fabricated accounting information at Autonomy Corp., which it acquired last year.

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