LCD Makers To Pay $388M in Price Fixing Suit

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Since this is a class action lawsuit, lawyers will get 95% of the money and the rest will be divided up between the millions of people that bought monitors between 2001 and 2006. :D

Samsung, Sharp, LG, and five other flat-screen display manufacturers have agreed to pay a total of $388 million to settle a civil class action suit brought against them by the U.S. Department of Justice over LCD price fixing. Japans’s largest LCD manufacturer—Sharp—will pay the largest penalty, $105 million. Samsung will pay $72 million, with Taiwan’s CMI paying up $78 million and South Korea’s LG paying $75 million.
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The do it and get caught, do it and get caught... I don't suppose the fines are enough to stop them in the future.
 
Just make the damn things cheaper and with smaller bezels and we'll gladly buy three.
 
Ah, I was wondering why the prices on LCD's have nosedived in the last four months, now I know
 
I will prolly have a couple $25 off coupons coming over this one. If I am lucky anyway.
 
fuck yeah go capitalism!!! price of doing business. they still profited enough for them to not even be effected by the fine. they will continue to be huge pieces of shits and do things like this over and over
 
I bet it will be a $1.00 rebate, since the lawyers got 95% of the settlement.
 
Imaulle said:
fuck yeah go capitalism!!! price of doing business. they still profited enough for them to not even be effected by the fine. they will continue to be huge pieces of shits and do things like this over and over
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you're right. I wish the government would just supply everyone with crappy WVGA screens
 
Once the lawyers have taken their share, I doubt you could even get a dollar out of what's left.:rolleyes:
 
government regulates the market= we're fucked
government doesn't regulate the market=we're fucked.

Long story short= we're fucked.
 
ShamisOMally said:
Ah, I was wondering why the prices on LCD's have nosedived in the last four months, now I know
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You didn't notice the prices of LCD TV's and Monitors dropping significantly in price 4-5 years ago?
 
They'll just mark it off as the "cost of doing business", and continue price fixing in the future for huge profits.
 
Well yeah, fining companies, and winning judgements against them does not work. The only thing that would work, is tossing CEO's and the members of a companies board of directors in prison for a bit. It would stop immediately after a few big names went to the clink. But that is not going to happen.
 
They still made much more than that by price fixing. I remember I bought my 17" samsung during a holiday sale and after this lawsuit came out, within a year the normal price was already $120 less than that really good sale price.
 
Massive industry wide price fixing that netted billions in profits and at the expense of consumers everywhere and the collective fine is less than if you shared a Lady Gaga album on bit-torrent.
 
I hate claas actions. On one hand you have a chance to at least getting the offending party a slap on the wrist. On the other you are not ever going to get just recompence. As a general rule, the lawyers get the money. While the injured party gets a pittance.
 
AMD T-type said:
I'll give you a hint, not the people it affected.
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WHy say that? I am sure those lawyers who are getting 95% of the settlement bought LCD TV's in those years. Heck, thats the only reason they sued.
 
Sage2k said:
I'm still using my 712n as a secondary monitor :cool:
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I loved that thing. "Upgraded" to a 22.3" Acer 16:9 a couple years later and gave the 712N to my parents. The image/color quality on the 712N was farrrrrrr superior to the Acer.

In fact, they are still using the 712N to this day without a single dead pixel.
 
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