Much like last month’s massive mortgage settlement, prosecutors have launched a couple of sites where consumers can track the status of the $538 million LCD screen price fixing settlement.A little background:
The suit was launched in 2010 against 10 companies prosecutors claim conspired for years to artificially inflate the prices of millions of LCD flat screens used in TVs, computer monitors and laptops.
This particular settlement applies to consumers who bought products with LCD panels between 1999 and 2006.
It’ll still be a while before checks start turning up in mailboxes, but the first step is filing a claim.
For indirect purchasers, visit: www.lcdclass.com
Most consumers likely fall into this category. Per the site, indirect purchasers “purchased a TFT-LCD panel in a television, monitor or notebook computer from someone other than the manufacturer of that panel. For example, if you purchased a Samsung TFT-LCD television from Best Buy during the Class Period, you made an indirect purchase of the TFT-LCD panel from Defendant Samsung.”
For direct purchasers visit: www.tftlcdclassaction.com
Direct purchasers would have picked up their products directly from the companies involved, rather than third-party retailers.
The companies involved: Chimei Innolux Corp., Chi Mei Optoelectronics USA, Inc., Chi Mei Optoelectronics Japan Co., Ltd, HannStar Display Corporation, Hitachi, Ltd., Hitachi Displays, Ltd., Hitachi Electronic Devices, USA, Inc., Samsung Electronics, Co., Ltd., Samsung Electronics America, Inc., Samsung Semiconductor, Inc., Sharp Corporation, and Sharp Electronics Corporation.
Of the $538 million settlement, $500 million will go back into consumers’ pockets, while the rest will be distributed among the states that filed claims on behalf of government agencies.
Private class actions were certified in nearly half the states, in addition to Washington, D.C. Although only eight states will see refunds to public entities, consumers who purchased products containing the LCD screens from 24 states will be entitled to partial refunds.
For more information on the settlement, consumers can also call 855.225.1886 or mail correspondence to LCD Class, P.O. Box 8025, Faribault, MN, 55021-9425.