California court greenlights Taiwan panel maker’s price-fixing settlement


CNA

TAIPEI — A U.S. court has approved a settlement of a price-fixing dispute between liquid crystal display (LCD) panel makers, including Taiwan’s Chimei Innolux Corp., and their American clients.

In the out-of-the-court settlement, Chimei Innolux — Taiwan’s leading maker of the flat panels used in computers and televisions — agreed to pay the U.S. plaintiffs US$78 million in damages, the company said in a statement issued late Tuesday.

The settlement stems from a class action lawsuit filed by direct purchasers of the panels in the U.S. District Court for the Northern District Court of California in 2007, in which the plaintiffs claimed damages for the losses they suffered as a result of price-fixing by panel makers from 1999 to 2006.