San Francisco – Consumers who purchased an LCD TV from one of 10 leading consumer electronics manufacturers between 1999-2006 may be eligible for a little payback.
The law firms of Zelle Hofmann Voelbel & Mason and the Alioto Law Firm said that as a result of settlements with 10 electronics manufacturers for lawsuits involving an illegal conspiracy to raise prices on LCD panels used in televisions, monitors, and laptop computers, approximately $1.1 billion in class action cash is to be divvied up among the injured parties.
Eligible consumers will be able to collect $25, $100, $200 or more by answering a few questions about the number of LCD flat screen TVs, monitors and laptops they bought between in the time period.
The exact amount of each payment will depend upon the number of products purchased and the number of claims filed. No receipts or other documents are required for small claims.
Consumers have until Dec. 6, 2012 to file a claim, which can be filed online at www.LCDclass.com.
Cash is available to consumers and businesses in the District of Columbia and the following 24 states: Arizona, Arkansas, California, Florida, Hawaii, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Mexico, New York, North Carolina, North Dakota, Rhode Island, South Dakota, Tennessee, Vermont, West Virginia and Wisconsin.
The law firms said the $1.1 billion settlement is the largest antitrust all-cash class action recovery ever obtained for consumers, who bought the electronic products indirectly from retailers and resellers, and not directly from the original manufacturer of the LCD screens.
According to a statement announcing the payouts, co-lead class counsel Joseph M. Alioto said: “This class action against international price fixers allows individual class members to recover a significant portion of what was illegally taken from them and acts as a warning to large corporations that price fixing on consumer electronic products will be successfully prosecuted.”
Co-lead class counsel, Francis O. Scarpulla added: “Consumers and businesses that overpaid for these products can get significant cash through a claims process that has been designed to make it quick and easy to file a claim online. People should act now before the Dec. 6 deadline.”
The settling defendants include: Japanese firms Hitachi, Sharp and Toshiba, Korean firms Samsung and LG Electronics and Taiwanese firms AU Optronics, Chunghwa Picture Tubes, HannStar Display and Chi Mei Optoelectronics.
For further information visit www.LCDclass.com or call (855) 225-1886.