TECHNOLOGY NEWS
July 04, 2012 12:00:00 AM
  Follow @ Twitter

Japanese electronics giant Toshiba said Tuesday a jury has ordered it to pay $87 million in a price-fixing case on LCD displays, but that it ultimately may not end up paying damages.

A company statement said the US District Court jury in San Francisco ordered the fine "due to alleged antitrust practices in the LCD business."

But it added that "given credits for settlements by other defendants, Toshiba expects that it will not have to pay any damages as a result of this verdict, even after trebling under US antitrust laws."

The case stems from a class action suit filed in 2007 by purchasers of LCD panels and related products in the United States.

"Toshiba has consistently maintained that there was no illegal activity on its part in the LCD business in the United States, and Toshiba continues to hold that view," the statement said.

Toshiba added that it "believes that the jury's verdict is in error as to the finding of wrongdoing on Toshiba's part. Toshiba plans to pursue all available legal avenues to correct that finding."

Several other companies have been charged in the case, and Taiwan's AU Optronics was among those found guilty.

LCD screens are used in computers, laptops, televisions, smartphones and other gadgets.

Rival LCD makers met in secret in karaoke bars, tea rooms, and hotel conference rooms in Taiwan to set prices rather than letting market forces prevail, according to US officials.

AFP


PREVIOUS STORY
Microsoft to take $6.2bn writeoff for online unit
NEXT STORY
iGoogle gets axed in shakeup

Bookmark and Share
   




FIJI NEWS
New Navua hospital openedThousands of people living in Navua and nearby areas are expected to benefit from the new hospital opened today in the area by Fijian Prime Minister Voreqe Bainimarama.
SPORTS
Nadrogaís issues are operational matters: FRUThe Fiji Rugby Union says the issues raised by the Nadroga Rugby Union are operational matters and do not concern the sponsors of the Skipper Cup Competition, CJ Patel.
HEALTH/FITNESS
Clean-up day to curb dengue outbreakFiji's Ministry of Health has declared a clean-up day next Thursday for residents in the central division as it ups the tempo against a dengue fever outbreak currently experienced in the country.
LIFESTYLE/FASHION
Charlene is Miss World Fiji 201420-year-old Nadi beauty, Charlene Tafunaíi was tonight crowned Miss World Fiji 2014 at the Pearl South Pacific Resort in Pacific Harbour.
ENTERTAINMENT
Reverse decision, Sky Pacific toldFijiís Consumer Council has called on Fiji Television Limited to reverse its decision to change its Sky Pacific channel line-up announced yesterday.
OFFBEAT
Mercury 'took Princess Diana to gay barQueen singer Freddie Mercury disguised the late Princess Diana as a male model and smuggled her into a notorious gay bar, according to a memoir serialised in Britain's Sunday Times.
NEWS SPORTS INFOTAINMENT SERVICES MOBILE EXTRA HOT TOPICS