WASHINGTON, Aug. 9, 2012 /PRNewswire-USNewswire/ -- The following is being released by Kinsella Media, LLC, court-approved notice provider for the LCD Flat Panel litigation.
This is the second notice in this case. The Court previously approved Settlements with seven Defendants. Settlements have now been reached with the three remaining Defendants: AU Optronics, LG Display and Toshiba ("New Settlements").
This lawsuit involves the price of thin film transistor liquid crystal display flat panels ("TFT-LCD" or "LCD"). The lawsuit claims that the Defendants conspired to fix, raise, maintain or stabilize prices of TFT-LCD Flat Panels resulting in overcharges to consumers who bought televisions, monitors and notebook computers containing the panels. The Defendants deny these allegations. The Court has not decided who is right.
The Settlements will provide almost $1.1 billion to consumers in 24 states and the District of Columbia and governmental entities in eight states that purchased televisions, monitors and notebook computers containing an LCD Flat Panel from someone other than the manufacturer of the Flat Panel. The Settlements also provide nationwide injunctive relief to stop the Defendants' alleged behavior.
The 24 states are: AZ, AR, CA, FL, HI, IA, KS, ME, MA, MI, MN, MS, MO, NV, NM, NY, NC, ND, RI, SD, TN, VT, WV and WI. The Attorneys General of AR, CA, FL, MI, MO, NY, WV and WI are also participating in the case on behalf of their citizens and governmental entities. Specific class definitions are available at www.LCDclass.com.
The Court will hold a hearing on November 29, 2012 to consider whether to approve the three New Settlements. Consumers may object to the three New Settlements, plan of distribution, attorneys' fees and costs, and awards to Class Representatives by October 9, 2012. Consumers may hire their lawyer to appear and speak at the hearing at their own expense.
With the exception noted below, the first notice gave consumers the opportunity to exclude themselves. Consumers who did not exclude themselves have given up the right to sue the Defendants for the claims in this case. Only individuals and businesses that indirectly purchased a LCD Flat Panel: (1) while residing in Arkansas; (2) while residing in Missouri or Rhode Island that was not primarily for household or personal use; or (3) that had a direct purchase in addition to an indirect purchase, have until October 9, 2012 to exclude themselves from the litigation involving AU Optronics, LG Display and Toshiba. Consumers outside the 24 states and the District of Columbia keep the right to sue the Defendants for monetary relief.
Payments will be based on the number of valid claims filed as well as on the number/type of LCD Flat Panel products that consumers purchased. It is expected that a minimum payment of $25 will be made to all eligible consumers who submit a valid claim. It is possible that any money remaining after claims are paid will be distributed to charities, governmental entities or other beneficiaries approved by the Court.
Consumers must submit a claim in order to get a payment. Claim Forms can be submitted online or by mail. Claim Forms can be obtained at www.LCDclass.com or by calling 1-855-225-1886. The deadline to submit a claim is December 6, 2012.
This is only a summary of the litigation. Consumers are encouraged to visit www.LCDclass.com to get more information about the litigation, obtain copies of the Settlement Agreements, and to file a claim or to download a Claim Form. Consumer may also call: 1-855-225-1886 or write to: LCD Class, P.O. Box 8025, Faribault, MN 55021-9425 to get additional information.
SOURCE Kinsella Media, LLC