Facts

Plaintiffs filed a class action lawsuit against most of the major producers of Thin Film Transistor Liquid Crystal Displays, more commonly known as LCDs, on behalf of direct purchasers of LCDs. LCDs, which are produced in panel form, are used in a variety of electronic devices, including laptop computers, monitors and televisions, as well as cell phones. From 1998 to 2006, plaintiffs alleged that defendants, including Toshiba, conspired to fix and stabilize the price of LCDs. Toshiba was the last remaining defendant. All other defendants have settled for just over $440 million in total.

In addition, in 2011, HannStar Display Corp. plead guilty to playing a role in a criminal conspiracy to fix prices, and paid $30 million in criminal fines.

PLAINTIFF'S CONTENTIONS:
The plaintiffs claimed that the defendants engaged in a conspiracy, which they effectuated through bilateral communications. The group meetings were known as "crystal meetings," where the parties would discuss various aspects of their conspiracy. They also worked together to establish prices, values for various attributes of panels, what to tell customers regarding the pricing, as well as coordinating and exchanging other information.

Result

The verdict against Toshiba was $87 million. That amount will be trebled in accordance with antitrust law, for a total of $261 million. Plaintiffs are also entitled to attorney's fees and costs. The prior settlements were to be set off against the verdict after trebling. Thus, the recoverable damages were zero. In recognition of this fact, the case is being settled at a level approximating costs, expenses and fees.

Deliberation

1.5 days.

Poll

unanimous

Length

six weeks