Brooklyn, N.Y. - P.C. Richard & Son, ABC Warehouse and the MARTA Cooperative of America are the latest merchants to file suit against 15 LCD manufacturers and their subsidiaries for price fixing.

The newest complaint, filed jointly by the two regional CE and majap chains  and the Arizona-based buying group, seeks damages from Epson, Hitachi, LG, NEC, Samsung, Sanyo, Sharp, Toshiba and other suppliers for forming an international cartel that conspired to "fix, raise, stabilize and maintain" panel prices between 1996 and 2006.

Other defendants include Au Optronics, Chi Mei, CMO, Chunghwa, Hannstar, Mitsui and Tatung, which together affected billions of dollars of U.S. commerce during the 10-year period, the retailers said.

The claim, filed June 16 in a U.S. district court in Brooklyn, follows class-action and individual suits by retailers including Best Buy and more recently BrandsMart USA, which are based on recent price-fixing prosecutions by the U.S. Justice Department. The agency has obtained more than $890 million in fines from eight of the LCD producers, and nine cartel executives including the CEO of Chungwha and the president of Chi Mei received prison terms of up to 14 months.

The plaintiffs have requested a jury trial in which they will seek to recover damages, court documents show.

 
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2011-06-17 20:12:17
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Abstract Web: 
Brooklyn, N.Y. - P.C. Richard & Son, ABC Warehouse and the MARTA Cooperative of America are the latest merchants to file suit against 15 panel manufacturers and their subsidiaries for price fixing.
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