Sharp To Pay $198M To Settle LCD Price Cartel

OSAKA, July 9 (Kyodo) — Sharp Corp. said Monday it has agreed to pay $198.5 million, or about 15.9 billion yen, to settle a lawsuit in the United States filed by Dell Inc. and two other companies over alleged price-fixing involving liquid crystal display panels.

"We have decided it is the best way to seek a settlement, taking into account such factors as the U.S. civil lawsuit system and facts" of the case, Sharp said in a statement.

The Osaka-based electronics company will book the payment as a special loss in its earnings for the April to June period for the business year ending next March, it said.

"We will release our earnings projection which includes the effect" of the settlement at a later date, the company said in the statement.

According to Sharp, Dell Inc. and the two other companies filed the damages lawsuit in November 2009 and afterward over LCD panel transactions.