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 Rights violation: Toshiba fined $110 million in US antitrust case

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Rights violation: Toshiba fined $110 million in US antitrust case Vide
PostSubject: Rights violation: Toshiba fined $110 million in US antitrust case   Rights violation: Toshiba fined $110 million in US antitrust case Icon_minitimeTue Jul 03, 2012 9:50 pm
Japanese electronics giant Toshiba said on Tuesday a jury has ordered it to pay US$87 million (S$110 million) in a price-fixing case on LCD displays, but that it ultimately may not end up paying damages.

A company statement said the United States (US) District Court jury in San Francisco ordered the fine 'due to alleged antitrust practices in the LCD business.' But it added that '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 US antitrust laws.'

The case stems from a class action suit filed in 2007 by 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,' the statement said.

http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_818360.html
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