US: History’s largest price-fixing settlement soured by delayed payouts

Consumers who purchased LCD televisions between 1999 and 2006 may have to wait months – or even years – to receive their share of a class action settlement from history’s largest price-fixing consumer settlement. Reports say several objections to the $1.1 billion in settlement funds are delaying payouts; attorney Joseph Alioto, who co-argued the case against the TV makers, said the distribution of funds is “taking way too long.” According to reports, the class action involves 235,000 consumers and businesses in 24 US states as well as the District of Columbia. Nine LCD-television manufacturers were found guilty of price-fixing; the companies settled out of court last year. Alioto told reporters that due to the number of objections to the settlement, sending out settlement checks could take years; he said he will ask the judge to ensure any objections filed are “worthy” of delaying the settlement payouts.

Full Content: Star Tribune

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