Tuesday, July 3rd 2012
Toshiba Responds to Jury Verdict in a U.S. Class Action for LCD Price Fixing
Toshiba Corporation (Toshiba) and its subsidiary, Toshiba America Electronic Components, Inc. (TAEC), announced today that a jury in the United States District Court for the Northern District of California (San Francisco) has issued a verdict against Toshiba in the amount of US$87 million due to alleged antitrust practices in the LCD business. 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.
This class action was filed in 2007 by direct purchasers of LCD panels and related products in the United States.
Toshiba has consistently maintained that there was no illegal activity on its part in the LCD business in the United States, and Toshiba continues to hold that view. While Toshiba appreciates the jury's time and effort, Toshiba believes that the jury's verdict is in error as to the finding of wrongdoing on Toshiba's part. Toshiba plans to pursue all available legal avenues to correct that finding.
At this time, Toshiba does not plan to revise projections for fiscal 2012 business performance due to this matter.
This class action was filed in 2007 by direct purchasers of LCD panels and related products in the United States.
Toshiba has consistently maintained that there was no illegal activity on its part in the LCD business in the United States, and Toshiba continues to hold that view. While Toshiba appreciates the jury's time and effort, Toshiba believes that the jury's verdict is in error as to the finding of wrongdoing on Toshiba's part. Toshiba plans to pursue all available legal avenues to correct that finding.
At this time, Toshiba does not plan to revise projections for fiscal 2012 business performance due to this matter.
10 Comments on Toshiba Responds to Jury Verdict in a U.S. Class Action for LCD Price Fixing
Seems like a state shouldn't be able to levy fines against foreign companies for something that has an effect nationally and globally, or is that just me trying to be logical in assuming that its not JUST California that was affected by the price fixing.
What they're doing seems more like a first come first serve money grab than anything else.
I'd like abuse of judicial power for 87 million alex :roll:
No surprise San Francisco ruled on this. Worst court system in the nation. It is a shame Toshiba couldn't have had the case elsewhere.
Meanwhile, I've purchased 3 SSDs.
I'd say they're losing market share.
Hopefully the SSD prices will drop to half as they are now, and also they will last longer than 5 years. With warranty and all....
As for SSD's, when the prices are like 1/2-1/3 I'll step into that realm.. 500 gb for 500 bucks is a no go..
my gtx680 = 500.. Not my HD/SSD. I just don't feel like the tech is equivalent per performance ratio.