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Florida joins federal lawsuit against LCD manufacturers

Florida joined a California-based federal lawsuit Tuesday against the world's largest LCD manufacturers alleging the companies fixed prices for their products.

Attorney General Bill McCollum called it a "massive conspiracy" that inflated prices for consumers. His office is seeking damages. The state's investigation began in November 2008.

Florida officials subpoenaed records that indicate more than 20 companies, such as Toshiba and Samsung, violated federal antitrust laws by conspiring set fixed prices on the liquid crystal display panels, which are common in computer monitors and televisions.

Federal authorities initiated a related criminal investigation that led to the indictment of a number of company officials alleging criminal fraud.

Florida joins federal lawsuit against LCD manufacturers 08/10/10 [Last modified: Tuesday, August 10, 2010 7:56pm]
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