Samsung to pay $29 million for price-fixing scheme affecting millions of Washingtonians

September 4, 2018 by meganmertz2289

If you own, or have owned, an old school CRT, also known as Cathode Ray Tube TV or computer monitor, there’s a good chance some money is coming your way.

According to Attorney General Bob Ferguson, seven electronics companies conspired to fix the prices of CRT products.  Samsung became the seventh and final company to reach a settlement.  The Attorney General said Samsung was the biggest player and paid $29 million of the $39 million.

“They got together, these seven competitors, who sell this product and said ‘Hey you know what? It’s not in our best interest to compete against each other {because} that drives prices down. Let’s get together, have a series of meetings, and agree on an inflated price that we all sell it for,’” Attorney General Bob Ferguson explained.

The seven companies include Samsung, Philips, LG, Toshiba, Panasonic, Hitachi and Chunghwa.

If you owned one of these companies’ CRT products between 1995 and 2007, all you have to do is file a claim.  If approved by the administrator, you will receive up to $20 dollars per computer monitor and $6 dollars per television.

You do not need a receipt to prove the purchase.

“Folks should make the claim, use their best judgment,” Ferguson said.  “We have a process to evaluate those, but people should absolutely turn in that claim if they feel they made such a purchase.”

Click here to file your claim.

The money should be distributed by early 2019.