Florida to join New York in lawsuit against major LCD makers for price fixing - AVS Forum
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post #1 of 10 Old 08-12-2010, 12:06 PM - Thread Starter
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Florida to join New York in lawsuit against major LCD makers for price fixing


Florida Attorney General Bill McCollum said on Tuesday he is suing the world's biggest makers of liquid crystal display screens for engaging in a "conspiracy at the highest level" to fix prices. McCollum's announcement came days after New York Attorney General Andrew Cuomo filed a similar lawsuit on Friday, alleging a decade of price fixing by major Japanese, South Korean and Taiwanese LCD makers and by their U.S. units. In a statement, McCollum, who like Cuomo in running for governor, said records subpoenaed by his office indicated the defendants organized the conspiracy "at the highest level of their organizations in various secret meetings and telephone conversations over a period of years." Among the defendants are well-known international LCD makers such as Samsung Electronics Co Ltd, AU Optronics Corp, Hitachi Ltd, LG Display Co, Sharp Corp and Toshiba Corp, the Florida attorney general's office said. It noted that some of the defendants and their employees had already been indicted by the U.S. Department of Justice and had paid over $890 million in criminal fines. Source - Reuters

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post #2 of 10 Old 08-14-2010, 02:20 AM
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maybe a couple of years ago this could of been helpful. But now, prices are not too bad.

And seriously, are there not more important things for our government to be doing?
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post #3 of 10 Old 08-14-2010, 09:09 AM
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Quote:
Originally Posted by Dalumberjack View Post

And seriously, are there not more important things for our government to be doing?

Going by the statement below, I would think $890 million in criminal fines is a money maker for the US

"It noted that some of the defendants and their employees had already been indicted by the U.S. Department of Justice and had paid over $890 million in criminal fines."
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post #4 of 10 Old 08-15-2010, 01:07 PM
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Originally Posted by B&W700guy View Post

Going by the statement below, I would think $890 million in criminal fines is a money maker for the US

"It noted that some of the defendants and their employees had already been indicted by the U.S. Department of Justice and had paid over $890 million in criminal fines."



It's like the government is our bully of a older brother, "Hey! You overcharged the tax payers. That's my money!"

*Yes I realize this money eventually gets spent on public services
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post #5 of 10 Old 08-16-2010, 06:20 AM
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your point????????????
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post #6 of 10 Old 08-16-2010, 03:45 PM
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Originally Posted by apexdown View Post



It's like the government is our bully of a older brother, "Hey! You overcharged the tax payers. That's my money!"

*Yes I realize this money eventually gets spent on public services

LG Display has already forked over $400 million in fines (and some prison time for a few select individuals)- the largest antitrust penalty paid out to date.

-nony
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post #7 of 10 Old 08-16-2010, 08:12 PM
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As a sidenote from the mobile phone world, Samsung has been holding up the release of many competitor's phones from being released for sale. The HTC Incredible, as an example, used the AMOLED screen that Samsung builds. But Samsung was holding out on HTC (said to be holding out so to use on their phones first), thus causing a severe shortage of these popular phones for sale. Recently though, HTC (and others) has gone on to another style of screen made by a different company, and the Incredible is once again back in stock. But it sure seems that Samsung is playing a lot of game with people, not just in home theater!

And considering how they are letting owners of their ex-flagship Blu-Ray player, the 2500/2550 rot away with no firmware support, I hope they lose big time!
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post #8 of 10 Old 08-17-2010, 04:48 AM
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Quote:
Originally Posted by Dalumberjack View Post

maybe a couple of years ago this could of been helpful. But now, prices are not too bad.

And seriously, are there not more important things for our government to be doing?

I agree it is not as helpful as it would have been a few years ago, however, I am always happy to see large corporations taken to task. I think there is much more of this going on than we will ever know about, it's just that this some how has effected someone in government in a personal way. Thats the key to solving the worlds ills, make the lawmakers suffer like the rest of us.
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post #9 of 10 Old 08-17-2010, 09:58 AM
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Be sure to wake me up when the government lowers taxes due to windfalls in receipts from corporations paying penalties.

That money will eventually come out of our wallets.
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post #10 of 10 Old 08-17-2010, 11:43 AM
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Quote:
Originally Posted by mrjktcvs View Post

Be sure to wake me up when the government lowers taxes due to windfalls in receipts from corporations paying penalties.

That money will eventually come out of our wallets.

That is a great deterrent against price fixing
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