By MATT CHANDLER
mchandler@bizjournals.com | 716-541-1654

New York State Attorney General Eric Schneiderman announced a multi-state settlement worth $553 million over alleged price-fixing of LCD screens used in TVs, computer monitors and laptops. Taxpayers could receive as much as $11 million as part of the settlement reached with seven major players in the tech world, he said.

The companies agreed to pay more than $538 million to settle antitrust claims brought on behalf of consumers by eight attorneys general and private class-action attorneys. The seven are Chi Mei Innolux Corp., Chunghwa Picture Tubes Ltd., Epson Imaging Devices Corp., HannStar Display Corp., Hitachi Displays Ltd., Samsung Electronics Co. Ltd. and Sharp Corp.

In the suit, the companies were alleged to have conspired to artificially inflate prices for the LCD screens. 

 "This price-fixing scheme manipulated the playing field for businesses that abide by the rules, and left consumers to pay artificially higher costs for televisions, computers and other electronics," Schneiderman said in a release announcing the settlement.

"Protecting the integrity of the marketplace is the only way to ensure the best outcome for New York's consumers. That is why my office will aggressively police anti-competitive practices and hold accountable those who violate the law."

Five of the companies also agreed to pay more than $14 million to settle civil fine and penalty law claims brought by the states. The corporations further agreed to engage in antitrust compliance programs and to cooperate with the states' ongoing prosecution of other industry participants.

According to the complaint filed by Schneiderman's office, Japanese, Korean and Taiwanese manufacturers of thin film transistor (TFT) LCD panels and their U.S. affiliates conspired to fix prices of TFT-LCD panels/ They sold millions of TFT-LCD panels at fixed prices in New York state, the AG said.

Under the agreements, the companies will pay up to $37 million to government and other public entities for damages resulting from the purchase of TFT-LCD panels.

Up to $501 million will be made available to consumers residing in 24 states and the District of Columbia who purchased products containing TFT-LCD panels from Jan. 1, 1999, through Dec. 31, 2006, the office announced.