Canadian businesses and individuals that bought a LCD monitor between 1998 and 2006 are due to receive a retroactive discount, after two law firms announce they have reached a settlement with electronics manufacturers in a class action lawsuit case.
London, Ont.-base Siskinds LLP and Vancouver-based Camp Fiorante Matthews Mogerman LLP announced in court they settled with defendant groups for $37.6 million in a LCD price-fixing case that goes back to 2007. Kicking money into the payments fund are Samsung Electronics Co. ($21.24 million), Innolux Corp. ($10 million), Japan Display Inc. ($3.15 million), Chunghwa Picture Tubes Ltd. ($2 million), and Epson Imaging Devices Corp. ($1.2 million). The defendants don’t admit to wrongdoing or liability. Also, there are five defendant groups that have not settled their portion of the class action lawsuit including LG Philips LCD Co., Sharp Corp., and Toshiba Corp.
But no matter what the make or brand of the LCD panel you bought in the eight year period, you stand to get some money back. Businesses and individuals alike that bought LCD monitors, televisions, or notebook computers can apply for the fund. It’s expected that each claim will receive a minimum of $25, but the amounts will be based on the number of claims made and the value involved in each claim. Claims can be made for any LCD panel more than 10-inches in diameter. Claimants can complete a form online or by mail.
If you’re not a fastidious records keeper, don’t fret. You can still file a claim for up to two LCD products without proof of purchase under the terms of the settlement. Claims made beyond two products will require proof of purchase, such as a receipt.
Commercial purchasers of LCD panels will be asked for the net purchase price of notebook computers, LCD monitors, LCD TVs, and panels and for the percentage that was for personal use vs. commercial use.
A fact sheet and FAQ from the law firms answer questions about claim submissions in further detail. The deadline to submit a claim is Dec. 9. Once you’ve made your claim, don’t hold your breath waiting for payment. The legal firms involve warn payment typically occurs a year or more after the claims deadline.