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US: Washington reaches $13M price-fixing deal with LG

 |  January 13, 2015

Washington state announced Tuesday that it has reached an agreement with South Korean electronics firm LG and its US counterpart to obtain restitution over the company’s price-fixing practices.

Washington State Attorney General Bob Ferguson announced that LG will pay $13 million for the alleged anticompetitive conduct, a deal that settles allegations that the companies violated Washington state antitrust laws.

LG was one of eight electronics manufacturers found by federal officials to have colluded to fix LCD screen prices. Washington filed its own complaint in 2010 on behalf of the state’s consumers. Under terms of the agreement, LG does not admit guilt, but has agreed to a $13 million payment, as well as to partake in a compliance monitoring program.

Full Content: Washington State Attorney General’s Office

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