LIQUID CRYSTAL DISPLAY ("LCD")
Background
This class action alleges that the Defendants unlawfully conspired to raise, maintain, fix and stabilize the price of large panel liquid crystal display (“LCD”) (ie. LCD panels that are 10 inches or larger, measured diagonally) and televisions, computer monitors and laptops containing LCD (collectively "LCD Products").
The plaintiff alleges that from at least January 1, 1998 to December 11, 2006, the defendants and their senior executives participated in illegal and secretive meetings and made agreements relating to price targets, specific price increases, market share divisions and production capacity for LCD Products.
Certification
On May 26, 2011, Justice Tausendfreund certified the action as a class proceeding on behalf of all persons in Canada (excluding defendants and their respective parents, employees, subsidiaries, affiliates, officers and directors) who purchased LCD Panels and/or LCD Products directly from a defendant or any entity affiliated with a defendant, a named Original Equipment Manufacturer or a named Distributor in Canada between January 1, 1998 and December 11, 2006. The defendants are currently seeking leave to appeal the certification decision.
Settlements to Date
A settlement has been reached with the Defendant Chunghwa Picture Tubes Ltd. The settlement requires. Chunghwa to pay Cdn $2,023,000 for the benefit of class members. Chunghwa is also obligated to cooperate with the plaintiff in the continued prosecution of the litigation. The settlement has been approved by the Ontario, British Columbia and Quebec courts.
A second settlement has been reached with Epson Imaging Devices Corporation (formerly known as Sanyo Epson Imaging Devices Corporation) (“Epson”) which is subject to court approval in Ontario, British Columbia and Quebec. Pursuant to the terms of the settlement, Epson has agreed to pay CDN$1,200,000 for the benefit of settlement class members and to provide cooperation in the continued prosecution of the litigation. A motion to approve the settlement will be heard by the Ontario Court in the City of London on December 2, 2011 at 10:00 a.m., the British Columbia court in the City of Vancouver on January 26, 2012 at 9:00 a.m. and the Superior Court of Quebec in the City of Quebec on December 7, 2011 at 9:30 a.m.
For further information concerning this action, please contact Jennifer Bald at 1-800-461-6166 ext 2455 or email Jennifer by clicking on the Contact Us link below.