Bloomberg News

Toshiba Among Display Makers Sued for Price Fixing

June 17, 2011

(Corrects story published June 16 to say “spokesman” in fifth paragraph.)

June 16 (Bloomberg) -- Toshiba Corp., Sharp Corp. and at least 13 other makers of liquid-crystal displays were sued by retailer P.C. Richard & Son Inc. over claims they conspired to fix prices.

Beginning about 1996, the companies “met in person or communicated by other means to agree on LCD product prices and the amount of LCD products each would produce,” according to the complaint filed today in federal court in Brooklyn, New York.

In addition to Farmingdale, New York-based P.C. Richard, the suit was filed by Pontiac, Michigan-based ABC Appliance Inc., which runs retailer ABC Warehouse, and Marta Cooperative of America Inc., a buying cooperative based in Scottsdale, Arizona.

Seven of the defendants have admitted to participating in the conspiracy and paid millions of dollars in criminal fines, according to the lawsuit. Best Buy Co., the world’s largest consumer-electronics retailer, sued the display makers last year.

Keisuke Oomori, a spokesman for Tokyo-based Toshiba, said the company is checking on the matter. Miyuki Nakayama, a spokeswoman for Osaka, Japan-based Sharp, declined to comment.

The case is P.C. Richard & Son Long Island Corp. v. AU Optronics Corp., 11-2903, U.S. District Court, Eastern District of New York (Brooklyn).

--With assistance from Yuki Yamaguchi in Tokyo. Editors: Mary Romano, Stephen Farr, Young-Sam Cho

To contact the reporter on this story: Thom Weidlich in Brooklyn, New York, federal court at tweidlich@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.


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