Toshiba loses verdict on LCD price-fixing for $87M

[July 05, 2012]  LOS ANGELES (AP) -- A federal jury in San Francisco found Tuesday that Toshiba Corp. knowingly participated in a conspiracy to fix the price of liquid crystal displays sold in the United States, causing $87 million in damages to manufacturers that bought the products for use in their TVs and other goods.

Toshiba disputed the verdict in the 2007 case and said Tuesday it will "pursue all available legal avenues to correct that finding."

Toshiba spokeswoman Rebecca Bueno said the damages are tripled to $261 million by law.

But the company said it won't have to pay the amount, because damages paid out through other settlements have already covered the damages suffered.

A host of defendants including Sharp, Samsung and LG have already agreed to settle claims for $405 million.

[Associated Press]

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