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Wisconsin, 7 other states reach some settlements over LCD screen price fixing

Brass Milled Gavel By walknboston (Flickr: Gavel) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
Brass Milled Gavel By walknboston (Flickr: Gavel) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

MADISON, WI (WTAQ) - Wisconsin and seven other states have reached settlements with most of the TV and computer makers they sued last year for alleged price-fixing on LCD screens.

State Attorney General J.B. Van Hollen said the companies -- including Samsung -- agreed to put $500 million into a settlement fund for consumers and businesses from 25 states. But Wisconsinites won't be able to make claims just yet.

Van Hollen says litigation must still be concluded against 4 other firms, including LG.

Van Hollen said those companies have been charged in federal criminal cases -- and they're scheduled to go on trial in November on the states' lawsuit.

Wisconsin is joined in that case by Arkansas, California, Florida, Michigan, Missouri, New York, and West Virginia.

The states' lawsuit was filed in August of last year. It said the companies conspired to illegally inflate prices of certain LCD panels, and preventing price competition for the panels that are most common in TV's and computers.