Samsung SDI Co. (006400) agreed to pay $33 million to settle allegations that it conspired with other makers of picture tubes used in televisions and computers to fix prices and overcharge buyers, lawyers for purchasers of the products said.
The accord is the largest of five settlements worth a total of $81 million reached in price-fixing lawsuits filed in 2007 claiming manufacturers conspired to raise prices for cathode-ray tubes and products containing the tubes starting in 1995, the attorneys said today in a filing in federal court in San Francisco.
Thousands of direct purchasers of the picture tubes would be eligible for settlement funds under the accord. Samsung SDI and affiliates, who were named as defendants in a class action, or group lawsuit, denied price fixing, according to the settlement agreement filed in court.
The accord must be approved by a judge.
Gary Halling, an attorney for Samsung SDI, didn’t immediately respond to an e-mail seeking comment on the settlement.
The case is In Re Cathode Ray Tube Antitrust Litigation, 07-cv-05944, U.S. District Court, Northern District of California (San Francisco).
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