Sep. 12, 2013
Bruce L. Simon
See more on Bruce L. SimonPearson, Simon & Warshaw LLP | San Francisco | Practice type: Business litigation
Simon was co-lead class counsel what he called "a massive litigation effort" in a high-profile antitrust dispute that brought class members a total recovery of more than $473 million. The direct purchaser class action alleged a decade-long conspiracy to raise and fix the prices of TFT-LCD panels and certain products containing those panels. In Re TFT-LCD (Flat Panel) Antitrust Litigation M07-1827 (N.D. Cal., filed April 2007).
Formally called Thin Film Transistor Liquid Crystal Displays, they are used in flat-panel televisions, as well as computer monitors, laptop computers, mobile phones and other devices. The defendants included LG Display, Samsung, Sharp, Toshiba, Hitachi and Epson.
Simon worked closely with his partner Clifford H. Pearson and co-lead counsel Lieff Cabraser Heimann & Bernstein. Simon handled all aspects of the litigation, including trial, while Pearson focused on the settlement negotiations.
"The case took over five years from the time it was filed to the completion of the trial," Simon said. Eleven of the defendants ended up settling for more than $443 million, with Toshiba opting to proceed to trial.
In July 2012, a jury found that the company had participated in the price-fixing conspiracy. Pearson then negotiated a final settlement with Toshiba, bringing the total recovery to more than $473 million for the class members.
In another significant matter, Simon was co-lead counsel in an antitrust dispute for a group of Midwestern agricultural businesses alleging that the price of potash was fixed by Russian, Belarusian and North American defendants. Potash is a main ingredient in fertilizer. In Re Potash Antitrust Litigation, CV08-6910 (N.D. Ill.).
The case settled for $90 million after several years of litigation. In June 2012, in an 8-0 en banc decision, the U.S. District Court of Appeals for the 7th Circuit affirmed the district's court's denial of defendants' motion to dismiss.
- PAT BRODERICK
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