SAN JOSE, Calif. -- West Virginia Attorney General Darrell McGraw filed suit against manufacturers of thin-film transistor liquid crystal display panels (LCDs), alleging that the companies conspired to fix the prices of their products.
West Virginia filed the lawsuit in federal court in the Northern District of California in cooperation with the attorneys general from Wisconsin, Missouri, Arkansas, and Michigan.
Last week, Washington state, New York, Oregon and Illinois filed similar suits.
The states claim the defendants – Taiwanese, Korean and Japanese companies – conspired to prevent competition and to increase prices for LCD panels used in popular electronic devices such as desktop computer monitors, laptop computer screens, and flat panel televisions.
"The price fixing of LCD panels, which are essential to our electronic economy, is intolerable," McGraw stated in a statement. "This massive conspiracy resulted in artificially and illegally inflated prices of LCD panels at the expense of West Virginia taxpayers."
Defendants named in the suit include electronic goods manufacturers: AU Optronics Corp.; AU Optronics Corp. America; Chimei Innolux Corp.; CMO Japan Co., Ltd.; Chi Mei Optoelectronics USA, Inc.; HannStar Display Corp.; Hitachi Ltd.; Hitachi Displays, Ltd.; Hitachi Electronic Devices USA, Inc.; LG Display Co., Ltd., LG Display America Inc.; Samsung Electronics Co., Ltd.; Samsung Electronics America, Inc.; Samsung Semiconductor, Inc.; Sharp Corporation; and Sharp Electronics Corp.
This is the case where companies will not be able to accept it in totality. On the other way companies should as well not become that much greedy.
It also a time that companies should start manufacturing units in the developing countries, that way they will be able to have buffer production in this kind of situations.
But West Virginia Attorney General is quite right one should not make maximum use of the volatile market and put burden on the consumers indirectly.
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