A sixth major television maker has settled a multi-million dollar price fixing lawsuit with the Washington Attorney General. The lawsuit centers on picture tubes made for TV’s and monitors for 12 years, starting in the mid 90’s.
Washington Attorney General Bob Ferguson sued some of the world’s largest tube makers, claiming they were part of a price fixing scheme from 1995 to 2007.
Philips is the latest company to settle.
“With Philips, they’re paying seven million dollars back to Washington state consumers for price fixing on a very common product that folks have in many of their homes,” Attorney General Bob Ferguson said.
The AG’s Office has already collected a little more than one million dollars from LG and Toshiba. Panasonic, Hitachi and Chunghwa shelled out between $125,000 and $450,000 each.
Samsung is the last defendant that hasn’t settled.
“We believe Samsung was the most culpable, engaged in the most egregious conduct,” Ferguson explained. “So you can be sure from our standpoint it’s north of any amount paid by any of the other defendants and potentially significantly so.”
Now, Ferguson has a decision to make: Set up a settlement process to send the $10 million dollars already collected to consumers or wait for the Samsung case that’s set for trial in 2019.
“So we do save a lot of resources if we do one claims process, so right now I’m leaning towards waiting until the Samsung case is resolved,” Ferguson said.
If you have already owned one of these TV’s or monitors, don’t worry about collecting receipts from 20 years ago. Ferguson said you won’t need one for the claims process. When the Attorney General’s office gets the claims process started, we will let you know.