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Lawsuit Charges CRT Makers With Price-Fixing
New York Times
November 27, 2007
A class-action lawsuit was filed against six monitor manufacturers on Tuesday, alleging the companies of being a "global cartel" involved in price-fixing of CRT monitors. The lawsuit, filed in the U.S. District Court for the Northern District of California on behalf of Nathan Muchnick Inc., alleges that six manufacturers Chunghwa, LG Electronics, Matsushita, Philips Electronics, Samsung and Toshiba artificially inflated the prices of CRT products to remain stable despite a rapid decline in demand.
The prices of CRT monitors should have fallen as technologically superior products were introduced, said Joseph Saveri, a lawyer with Lieff Cabraser Heimann & Bernstein LLP, which represents Muchnick. "Instead, for almost a decade, we have seen periods of unnatural and sustained price stability, as well as inexplicable increases in the prices of CRTs," Saveri said. The complaint alleges collusive behavior by the manufacturers, causing the plaintiff and direct purchasers to overpay for CRT monitors. The suit seeks triple damages.