Toshiba Corp. said it will settle claims of alleged antitrust violations in the LCD business brought by purchasers of LCD panels and some products containing the panels. The settlement terms call for Toshiba to pay $30 million. In return, plaintiffs will relinquish all claims for damages, fees, costs, and other relief. The agreement still needs to be approved by the U.S. District Court in San Francisco.
This settlement comes after an $87 million July 3 jury verdict against Toshiba, which the company planned to appeal. Toshiba chose to settle instead, to avoid more prolonged litigation.
Toshiba admitted no wrongdoing as part of this settlement, and continues to maintain that it did not engage in illegal activity.
to Daily News