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A class action lawsuit has been filed against six monitor manufacturers for allegedly forming a global cartel involved in price fixing CRT monitors. The lawsuit was filed in the US District Court for the Northern District of California and claims Chunghwa, LG Electronics, Matsushita, Philips Electronics, Samsung, and Toshiba artificially inflated the prices of CRT products to remain stable despite a rapid decline in demand.
The class action claims the prices of CRT monitors should have fallen as technologically superior products were introduced. Instead there have been periods of unnatural and sustained price stability, as well as inexplicable increases in the prices of CRTs.
LawyersandSettlements.com
December 3, 2007