State Reaches $63M Agreement With LCD Manufacturers

The manufacturers were accused of fixing prices for TVs, laptops and cell phones.

Washington state Attorney General (Rachel La Corte/ AP Photo) Bob FergusonWashington State Attorney General Bob Ferguson says his office has reached a $63 million agreement with nine LCD manufacturers accused of fixing prices for products like TVs, laptops and cell phones.

The settlement still needs a judge's approval.

But if approved, Ferguson says it will be one of the largest recoveries by his office's antitrust division in state history.

The state had sued a list of companies that make products that use a liquid crystal display, or LCD. The lawsuit claimed these companies conspired to fix prices between 1998 until 2006.

Ferguson says the scheme may have increased the prices that customers paid by as much as 20 percent.

He says the bulk of the agreement will be returned to consumers who purchased the products.

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