Toshiba To Pay $87 Million In Damages For LCD Price-Fixing Scandal

Posted on Jul 4 2012 - 5:17am by Karan Chopra

Toshiba in the price-fixing scam asked by the 10-member jury in the United States District Court for the Northern District of California (San Francisco) issued a verdict against Toshiba in the amount of US$87 million over the price-fixing scam. The other defendants LG Display, Sharp, and others faced criminal charges and pled guilty, paying a total of $585 million. The 10-person California jury ruled that Toshiba was liable for $17 million in damages to manufacturers and $70 million to consumers, and under US laws it may be charged three times as much; or $261 million. However, Toshiba “plans to pursue all available legal avenues to correct that finding.”

(Image Source: Toshiba logo, Featured Image)

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Karan is an internet enthusiast, who loves to explore every second thing in both technology and business.