Toshiba hit for $87 million in LCD price fixing verdict, maintains innocence
Toshiba decided not to settle when faced with allegations of price fixing, and now the company may have to pay the price. A jury handed down a verdict in the District Court for the Northern District of California today, hitting the company with $87 million in damages as part of a class action suit. The civil suit, separate from the criminal charges some of its alleged co-conspirators faced, wrapped today with the decision to award consumers $70 million and gave $17 million to manufacturers who purchased the company’s panels. Toshiba may not actually have to pay up, however, thanks to settlements struck by others caught up in the same scandal, which could cover the damages. Regardless, the company maintains its innocence and actually plans to pursue “all available legal avenues” to reverse the decision.
SOURCE via Reuters