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The lawyers representing indirect purchaser plaintiffs and the attorneys general for eight settling states have asked a California federal judge to approve the distribution of $1.1 billion from the LCD price-fixing class action settlement that was approved last year.
The LCD price-fixing class action lawsuits were initially filed back in 2006 following an investigation by the U.S. Department of Justice into claims that the world’s largest LCD manufacturers had conspired to fix the price of flat screen panels since 1999. The DOJ investigation has resulted in the manufacturers paying more than $1.3 billion in fines. Several companies have pleaded guilty and been convicted of criminal charges.
The plaintiffs allege consumers were overcharged for electronic devices that contained flat panels due to the price-fixing scheme. Due to the large number of similar complaints against the LCD manufacturers, the price-fixing class action lawsuits were centralized in multidistrict litigation (MDL), which is known as In re: TFT-LCD (Flat Panel) Antitrust Litigation.
The manufacturers of flat panel monitors deny the allegations but agreed to settle the price-fixing class action lawsuit to avoid the expense and uncertainty of ongoing litigation. The LCD price-fixing settlement received final approval in April 2013.
According to the court document, all appeals of the LCD price-fixing class action settlement have been dismissed. The Settlement Administrator has reportedly processed around 233,000 valid claims for purchases of more than 16 million televisions, computer monitors and laptops containing LCD panels.
Under the terms of the class action settlement, claimants will receive a pro rata share of the settlement fund. It is estimated that claimants will receive $45 per computer monitor and laptop, and $90 per TV. The actual amount Class Members will be eligible to receive depends on the number of valid claims received.
The deadline to file a claim for the LCD price-fixing settlement was Dec. 6, 2012. However, the class action lawyers have asked the court to accept claims that were submitted by June 6, 2014. “The whole point of these actions was to compensate as many injured claimants as possible,” the motion states.
A hearing on the matter has been scheduled for Oct. 17, 2014.
If you would like to know the status of your claim, email the Notice Administrator at info@lcdclass.com or call the toll-free hotline at 1-855-225-1886. More information can be found at www.LCDClass.com.
Top Class Actions has been reporting on the LCD indirect purchaser class action lawsuit and settlement since 2012. We’ll continue to provide updates as they go out.
If you missed out on the LCD class action settlement, sign up for our free newsletter to receive updates on new class action lawsuits and settlements. You can also check out which class action settlements are still accepting claims in our Open Class Action Settlements section.
The indirect purchaser plaintiffs are represented by Zelle Hofmann Voelbel & Mason LLP and Alioto Law Firm.
The LCD Price-Fixing MDL is In re: TFT-LCD (Flat Panel) Antitrust Litigation, Case No. 3:07-md-01827, in the U.S. District Court for the Northern District of California.
UPDATE: The following email was sent Sept. 12, 2014, by the Settlement Administrator to Class Members who filed claims:
Notice Administrator
UPDATE 2: A federal judge reportedly gave authorization to distribute the LCD class action settlement funds at a hearing on Oct. 17. 2014, and the checks are likely to be distributed the last week in October. Read more.
UPDATE 3: On Oct. 27, 2014, our readers began reporting that they finally received checks from the LCD panel class action settlement. Some readers have received checks worth hundreds of dollars. Let us know how much money YOU received in the comments section below. Congratulations!
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24 thoughts onPlaintiffs Seek OK to Distribute LCD Price-Fixing Settlement Money
Checks will be mailed around the first week of November. Checks will be between $47 to $112.
YUP. I GOT AN E-MAIL TO. THANK GOD. AND THANK THE ADMINISTRATOR’S FOR KEEPING US UP TO DATE.
I received my e-mail from the Administrator’s Office and they said to send them an e-mail asking if they had everything to support my claim. To date I have not received a reply from the Administrator. If they are legimate claims, everyone should send the e-mail. This way if you don’t receive anything, then you have proof that you made an inquiry to the Administrator and you can go back after them for your money.
Good news for everyone, a win win….
#happy
If you read the documents on the claims administrator site. Its states it will be about $45 per laptop and monitor. Then $90 per television.
Better were lucky we got anything after waiting for final details. What do you do? Nothing. We are the ones getting the boot! I’ve spent so much money on technology that its really not worth fighting for. I got one of the first Gateway flatscreens when they first came out. After fixing it twice, were talking over $5K I decided to give up and get my new TV from Walmart. I know its just not fair but take what you can get at this point!
The settlement also included attorney’s fee and settlement administration fees
Found my notification in mine spam inbox.
My brother received his notification in his spam inbox as well.
if you do the math 1.1 billion divided by 233000 CLAIMS is about$4700 each. they promised $200 for tv,$100 for monitor. now with all that money they have cut it to $90 for tv and $45 for monitor. they always pro rata down for these settlements. with all this money they got they should pro rata up to $4700 each but they won’t because it is COMMON practice to screw the hard working americans every chance they get. someone should stand up for us on this one but they won’t. somebody will have a good Christmas with OUR MONEY BUT IT WON’T BE US.
If you read!!!! it says there were 16 million TV’s, laptops, computer monitors put down on the 233,000 claims. That means every person on average claimed they had 68 ish of those items. 233,000 claims times 68 items comes out to 15.8 million. Lying bastards that put in claims for items they probably didn’t own screwed us. So blame the innocent people your sitting here trying to stick up for.
That number probably includes retailers who would be able to claim more items than the whole sell consumer.
There was a guy on top class action’s facebook page that posted a pic of his check for over $6,500! He has since removed the post. Now, how can that be legit? They actually okayed that claim???!!! Come on! That’s like 50 tv’s plus 50 computers/laptops. And he was approved for a check???!!! We all were cheated by the cheaters, and by Rust that allowed this to go through….and I’m sure that he was just one of many that got thousands for lying their butts off!
I found the up-dated e-mail in my spam yahoo e-mail account:
Dear Claimant:
On July 24, 2014, you were sent an email advising you that all appeals in the LCD Indirect Purchaser Class Action Settlement had been dismissed and that the final steps necessary to disburse recoveries to Claimants were proceeding. This email is to provide you with an update on the status of these claim processing activities and the anticipated schedule for distributing checks. You will not receive any further email updates on the status of these procedures unless there is some significant unforeseen delay.
We have now completed the claim audit/verification process. Class Counsel and the Attorneys General submitted a motion seeking approval from the Court to disburse payments to Claimants. The Court is currently scheduled to consider the motion on October 17, 2014. After Court approval is granted, distribution checks will be mailed. It is anticipated that this will occur within four weeks of Court Approval.
You are being sent this email because you filed a claim. Receipt of this email does not mean that your claim has been deemed eligible. If you would like to know if anything further is needed for your claim, or if you have questions, email the Notice Administrator at info@lcdclass.com or call the toll-free hotline at 1-855-225-1886. Additionally, please let us know if your address changes.
Please visit the website, http://www.lcdclass.com for future updates and the status of the court proceedings.
Thank you,
Notice Administrator