Toshiba conspired with vendors to keep LCD prices artificially high and is liable for an $87 million fine, a San Francisco jury determined today.
The 10-member jury deliberated for less than two days before finding Toshiba liable for liable to manufacturers for $17 million and to consumers for $70 million. U.S. antitrust laws allow overcharge damages to be tripled.
However, the Japanese electronics giant said it doesn't anticipate paying anything toward the jury's fine because other defendants in the class-action lawsuit have already paid settlements that exceed the fine against Toshiba.
"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 U.S. antitrust laws," Toshiba said in a statement.
In December, seven LCD manufacturers, including Samsung and Sharp, agreed to pay $553 million to settle lawsuits that claimed the companies were colluding with one another to fix the prices of their panels for use in consumer electronics. Three LCD makers, including Toshiba, did not participate in the settlement.
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