New York Sues LCD Makers For Price Fixing

The US State of New York has filed an anti-trust lawsuit against major LCD screen manufacturers.

The New York Attorney General Andrew Cuomo has accused the companies, including Sharp, Samsung, LG and Toshiba, of illegally forming a cartel to fix the prices of LCD products. Cuomo claims that the price fixing lasted for a decade and cost public institutions millions of dollars in overcharges.

According to the lawsuit, if found guilty, the companies would have to pay damages and restitution fees to the government, as well as a fine for breaching the anti-trust laws of the State of New York.

The accused companies are alleged to have sold LCD displays to computer manufacturers at artificially inflated prices. The manufacturers then sold the computers to state and local governments, schools, municipalities, hospitals and colleges.

Speaking to the Associated Press, Cuomo said: “As a result, hard-pressed New York cities, towns, schools and hospitals spent hundreds of millions of dollars on LCD screens affected by the illegal conspiracy. My office is bringing this case to get those illegal overcharges back.”