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US: Costco emerges victorious in fight against LCD price-fixing

 |  October 26, 2014

Bulk retail chain Costco scored a victory last Thursday when a federal jury in Washington state found that the company was owed nearly $37 million in damages following an LCD screen price-fixing scandal.

According to reports, AU Optronics, which was found guilty, and LG, which pleaded guilty to price-fixing charges of products with LCD screens, owe Costco damages hiking prices of LCD products that were sold to Costco.

The companies were part of a broader, global scandal of LCD price-fixing collusion. Costco filed its lawsuit in 2010 against 10 LCD manufacturers from Taiwan, Japan and South Korea; eight of those defendants settled the claims.

AU Optronics, meanwhile, is currently appealing its $500 million fine sanctioned by federal officials for its alleged role in the price-fixing.

Full content: Stole Berne

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