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US: LG settlement reaches $13 million with no concessions of wrongdoing

By  |  January 20, 2015
US: LG settlement reaches $13 million with no concessions of wrongdoing

LG Display Co. Ltd. has agreed to a $13 million settlement to a class action lawsuit in the state of Washington. The suit alleged that LG was engaging in price fixing with other panel manufacturers. Additionally, the court is requiring LG to create and monitor programs for the purpose of preventing antitrust compliance in the future. LG, though paying the settlement, refuses to concede to the charges brought out in the class action lawsuit.

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    However, Washington Attorney General Rob McKenna filed the suit after LG pled guilty in federal court to the price fixing practice. LG is the second company after Hitachi Electronic Devices to reach a settlement agreement in Washington over LCD panel allegations and the state has pending antitrust lawsuits against AU Optronics, Chi Mei, Epson, Samsung, Sharp and Toshiba.

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