Samsung Electronics Co., a worldwide maker of televisions and flat-screen panels, was accused in a lawsuit filed by electronics retailer BrandsMart USA Inc. of conspiring to artificially inflate the p…
Samsung Electronics Co., a worldwide maker of televisions and flat-screen panels, was accused in a lawsuit filed by electronics retailer BrandsMart USA Inc. of conspiring to artificially inflate the prices of liquid- crystal displays. The companies formed an “international cartel” to restrict production of LCD panels used in televisions, mobile phones and computer monitors from 1996 to 2006, according to the complaint by Interbond Corporation of America, which does business as BrandsMart USA. The case is Interbond Corporation of America v. AU Optronics Corp., and was filed in the US District Court in the Southern District of Florida (Ft. Lauderdale). Fifteen companies, plus units of some of them, are named as defendants in the lawsuit by Hollywood, Florida-based Interbond. The LCD manufacturers held what they called “crystal meetings” between high and mid-level executives monthly and sometimes quarterly in which they would agree to price and supply controls, according to Interbond“s complaint. The Japanese companies initiated the meetings and then brought the South Korean and Taiwanese producers into the conspiracy when they entered the market, Interbond said.