LCD Makers Settle Price-Fixing Case For $553M

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Isn't this something like the fifteenth time this case has been settled? I could've sworn we've reported on this before. :confused:

Samsung Electronics Co, Sharp Corp and five other makers of liquid crystal displays agreed to pay more than $553 million to settle consumer and state regulatory claims that they conspired to fix prices for LCD panels in televisions, notebook computers and monitors. The settlement is the latest arising from lawsuits alleging the creation of an international cartel designed to illegally inflate prices and stifle competition in LCD panels between 1999 and 2006, affecting billions of dollars of U.S. commerce.
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Make Billions of dollars in profit illicitly, pay Millions of dollars in fines and say "sorry." Pretty much a no brainer here to continue bad behavior.
 
Does anyone know how much they made from price fixing? Hardly seems like much for the profits these companies make.

Person steels a song, pays thousands of dollars. Companies price fixes, gets fined for not even the amount they profited from it. Legal system at it's best.
 
SilverSliver said:
Make Billions of dollars in profit illicitly, pay Millions of dollars in fines and say "sorry." Pretty much a no brainer here to continue bad behavior.
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Something else has happened, the Samsung TV's have dropped in price so much to the point I bought one.
 
Ashbringer said:
Does anyone know how much they made from price fixing? Hardly seems like much for the profits these companies make.

Person steels a song, pays thousands of dollars. Companies price fixes, gets fined for not even the amount they profited from it. Legal system at it's best.
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That's how our system works, got a problem with it go somewhere. :D
 
so they pay a bunch of cash out, nobody gets enough to do any good because its all spread out thin, and the manufacturers simply mark up every tv sold to cover it, so they never really pay for it anyways...great...
 
nobody_here said:
so they pay a bunch of cash out, nobody gets enough to do any good because its all spread out thin, and the manufacturers simply mark up every tv sold to cover it, so they never really pay for it anyways...great...
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One of the big reasons behind the thought of not even taxing corporations because hell if they're simply going to be raising the prices to cover it anyways...
 
Damn, I'm about to get PAYED! Make it Rain BABY!


Oh wait, I'll get like ~$10...
 
looks like LG is holding out. So when they assrape them later with the help of their competition that settled I'll get 11 dollars. :)
 
wow note its 7 corps total payed a TOTAL of 553 million so each only payed ~79 million
i bet they had that in petite cash just setting around
its not even a slap on the wrist its just insulting to consumers the only ones getting any thing out of this are lawyers
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Elios said:
wow note its 7 corps total payed a TOTAL of 553 million so each only payed ~79 million
i bet they had that in petite cash just setting around
its not even a slap on the wrist its just insulting to consumers the only ones getting any thing out of this are lawyers
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X2

Enjoy what you have while you have it. We are going down sooner rather than later. Learn to grow food and shoot.

I wish I was joking.
 
soooooooo, do people that have bought a TV in this time period expect to see a check in the mail or what? Even if it is just 1$... OR do you have to still have your receipt for said TV and prove you bought it to get anything?
 
Rahh said:
soooooooo, do people that have bought a TV in this time period expect to see a check in the mail or what? Even if it is just 1$... OR do you have to still have your receipt for said TV and prove you bought it to get anything?
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who cares? would you spend your time searching for a receipt for $1? even $5?

i sure as hell wouldn't
 
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