HP Files Lawsuit Against Display Makers for Price-Fixing
December 5, 2012 8:19 AM
comment(s) - last by
HP is seeking unspecified damages
Computer maker HP has filed suit against Chunghwa Picture Tubes and Tatung Company of America seeking to recover damages because of LCD price-fixing. Both of those companies are subsidiaries of Tatung Company, a consumer electronics maker from Taiwan.
In November of 2008, the companies pled guilty to participating in a conspiracy with other major LCD display manufacturers to set fixed pricing for TFT-LCD panels at predetermined levels. The company had agreed to pay a $65 million fine for its part in the conspiracy.
"HP has filed suit against Chungwha Picture Tubes, Ltd. and its subsidiary Tatung Company of America, Inc., in a California court to recover damages the company suffered as a result of the defendant's admitted participation in a TFT-LCD price fixing scheme from 1996-2006," HP's vice president of corporate communications, Howard Clabo, said Tuesday via email.
"HP has suffered significant damages as a result of the price-fixing conspiracy in which Chungwha has admitted it participated," Clabo said.
HP reportedly tried to settle the case out of court, but negotiations failed. Clabo says that after negotiations failed taking the matter to court was HP's only option.
HP is currently in a bit of financial turmoil and is looking for ways to improve its bottom line. HP recently racked up an
$8.8 billion write-down
on its purchase of software firm Autonomy.
The massive write-down led to HP reporting a $6.9 billion loss in Q4. HP alleges that the giant write-down was the result of "serious accounting improprieties" at
This article is over a month old, voting and posting comments is disabled
RE: Sue Sue Sue...
12/5/2012 11:57:54 AM
HP is actually standing up for the consumer in this regard as price fixing negatively impacts the wallet of a consumer in the end.
Mind you, HP wouldn't have gone into the lawsuit by thinking about consumers specifically, but the end result is still to our benefit with lower overall prices hopefully.
RE: Sue Sue Sue...
12/5/2012 4:00:58 PM
Oh please. The suit from DoJ already punishes the LCD makers for screwing the consumers over. HP doing this again is them trying to get some money back for itself, and nothing more. This has nothing to do with "standing up for the consumer".
RE: Sue Sue Sue...
12/5/2012 4:17:33 PM
Oh please. I'll believe that load of bullcrap when HP refunds any net proceeds from this lawsuit to customers.... who ultimately paid for the overpriced LCD screens.
"Death Is Very Likely The Single Best Invention Of Life" -- Steve Jobs
Ex-Autonomy Owner Blast HP's Accusations
November 26, 2012, 12:43 PM
HP Posts Horrific Guidance, Will Take $8.8B USD Hit on "Improprieties"
November 20, 2012, 9:27 AM
Microsoft "Hopes" Developers Will Make Xbox One Games Unplayable Offline
May 24, 2013, 12:13 PM
Federal Judge Sides with U.S. DOJ in Apple E-Books Preliminary Hearing
May 24, 2013, 11:46 AM
HTC Considers "Senseless" One Smartphone
May 24, 2013, 8:00 AM
HTC One Hits 5 Million Sales in First Month, Despite Issues
May 23, 2013, 4:04 PM
HTC First's Arrival in UK Canceled, Facebook Assesses "Home" Feedback
May 23, 2013, 3:02 PM
Microsoft Expands Windows Azure in Asia, Mocks iPad in New Commercial
May 23, 2013, 12:06 PM
Most Popular Articles
High School Student Creates Storage Device that Can Charge in 20 Seconds
May 20, 2013, 6:51 AM
Apples Tries to Use Decade-Old Patents to Ban Samsung Galaxy S IV
May 22, 2013, 3:00 PM
NASA Awards $125,000 Grant for 3D Printed Food on Long-Term Space Travels
May 21, 2013, 1:32 PM
Microsoft Announces Voice-Controlled "Xbox One"
May 21, 2013, 12:55 AM
Cure For Baldness Could Be on Store Shelves within Two Years
May 22, 2013, 8:29 AM
Latest Blog Posts
Lumosity: Does it Work?
May 22, 2013, 8:20 PM
Quick Note: Sony "Teases" PS4 Ahead of Xbox Reveal in New Video
May 20, 2013, 12:33 PM
Nokia Introduces Instagram-Like App of Its Own to Help Lumia Sales
May 20, 2013, 7:10 AM
Parents of Pre-Teen Drivers Commonly Practice Distracted Driving Says Study
May 9, 2013, 7:16 AM
Apple's iOS 7 Running Into Internal Delays Due to Massive Overhaul
May 1, 2013, 4:26 PM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information