SPRINGFIELD, Ill., April 3, 2016 /PRNewswire/ --
If You Are an Illinois Resident Who Bought a TV, Monitor, Notebook Computer, Cell Phone or MP3 Player or Other Product Containing a Flat Panel Screen between January 1, 1998, and December 31, 2006,
A Lawsuit And Settlements May Affect You.
What is the lawsuit about?
There is a lawsuit involving the price of thin film transistor liquid crystal display ("TFT-LCD") Flat Panels. The lawsuit was brought by the Illinois Attorney General ("Plaintiff"). The lawsuit claims that Defendants conspired to fix, raise, maintain or stabilize prices of TFT-LCD Flat Panels resulting in overcharges to consumers who bought products containing the TFT-LCD Flat Panels. The Plaintiff is asking for money damages and an order to stop the Defendants' alleged behavior that is the subject of this lawsuit. The Defendants deny Plaintiff's allegations or that consumers suffered any overcharge. The Court has not decided who is right.
Settlements have been reached with five Defendants (Epson Imaging Devices Corp., LG Display Co., Ltd., Hitachi Displays, Ltd., Chi Mei Innolux Corp., Sharp Corp., and certain affiliates) and one alleged co-conspirator (Chunghwa Picture Tubes Ltd.). Three Defendants (AU Optronics Corp., Toshiba Corp. and Samsung Electronics Co., Ltd.) have not agreed to settle so the lawsuit continues against them.
Who is included in the lawsuit?
The lawsuit involves TFT-LCD Flat Panels purchased indirectly from the Defendants. "Indirectly" means that you purchased products containing the TFT-LCD Flat Panel from someone other than the company that manufactured the component TFT-LCD Flat Panel. The case is proceeding to recover money for these groups of indirect purchasers:
Illinois consumers: As parens patriae, Plaintiff has brought claims for monetary damages incurred by any person or business that purchased TFT-LCD panel products between January 1, 1998, and December 31, 2006, while residing in Illinois and for their own use and not for resale. TFT-LCD panel products include most notebook computers with color displays, flat screen monitors, TVs referred to as LCD or LED TVs, cell phones, MP3 players and other handheld devices with high resolution color displays.
Illinois political subdivisions: Plaintiff has also settled potential claims involving the same products and time frame on behalf of counties, municipalities, townships and other political subdivisions in Illinois.
Illinois state governmental entities: Plaintiff has also settled potential claims on behalf of the State of Illinois and its state governmental entities.
What do the settlements provide?
There are six settlements, totaling $104,646,436. More details are in Settlement Agreements and other documents available at www.illinoislcdsettlement.com. The cost to administer the Settlements, as well as the Illinois Attorney General's fees and costs will come out of the Settlement Fund. Plaintiff will request attorney's fees and costs amounting to 10% of the Settlement Fund. Plaintiff will request that fixed portions of the remainder of the Settlement Fund will be distributed pro rata to the State of Illinois and state governmental entities (roughly 1.2%) and political subdivisions (roughly 10.2%), and that the remainder Settlement Fund (roughly 88.6%) be used to pay individual and business consumers in Illinois.
The maximum amount you could potentially recover will vary by device, ranging from $270 for a TV to $20 for a small-screen device. If there is not enough money recovered to pay the maximum amount, your recovery will depend on the number of claims per device submitted and the total recovery. We expect that such a pro rata distribution will allow for at least $20 per claimed device and will increase if there are additional settlements or the State prevails at trial against the remaining Defendants.
How can I get a payment?
You must submit a Claim Form to get a payment. You can submit a Claim Form online or by mail. The deadline to submit a Claim Form is October 4, 2016. Claim forms are available at the website or by calling 1-800-949-0146. No money will be distributed yet. Plaintiff will pursue the lawsuits against the Non-Settling Defendants. All funds received in this case will be distributed together at the conclusion of the lawsuit or as ordered by the Court.
What are my rights?
If you do nothing, your rights will be affected. If you do not want to be legally bound by the lawsuit, you must exclude yourself from the lawsuit. If you exclude yourself, you will not get any benefit as a result of the settlements, trial, or judgment in this case. If you do not exclude yourself you will not be able to sue the Defendants for any claim relating to the lawsuits. The deadline to exclude yourself is June 4, 2016. Any request for exclusion or objection must be mailed to: Illinois LCD Indirect Exclusions, PO Box 170500, Milwaukee, WI 53217. Illinois state governmental entities may not exclude themselves from the Settlements.
For More Information: 1-800-949-0146 www.illinoislcdsettlement.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/illinois-state-attorney-general-opens-claims-process-for-104-million-lcd-settlement-300245034.html
SOURCE Illinois State Office of the Attorney General Lisa Madigan