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 Chopra, CEO at G2One Network An Internet Media Company), Founder at 99DollarWebsite and Editor/Writer at I2Mag, JustWP.org, CodeAndMe.net, TechEXplained.org, JustInfo.Graphics, HowToWebDesign.org, NextBigProduct and WPLove.co. Karan is an internet enthusiast, who loves to explore every second thing in both technology and business. You can find him on Facebook , Twitter and Google+.