Zelle Hofmann Announces Largest-Ever All-Cash Antitrust Consumer Class Settlements, Totaling $1.082 BillionJuly 12, 2012
Zelle Hofmann Voelbel & Mason LLP is pleased to announce that the long-running indirect-purchaser LCD antitrust class action has settled for a record-breaking total of $1.082 billion.
Under the ten total settlements, which are subject to Court approval, consumers and businesses in 24 states and the District of Columbia that bought LCD TVs, notebook computers, or computer monitors between 1999 and 2006 will be eligible to receive cash payments. (See https://lcdclass.com.) Zelle Hofmann serves as co-lead class counsel for indirect purchasers who bought products containing LCD panels made by the defendants, who are alleged to have participated in an illegal price-fixing cartel.
“This was a fantastic effort by the Zelle Hofmann lawyers and our co-counsel who worked so diligently on this case,” said Zelle Hofmann senior partner Francis O. Scarpulla. In addition to Scarpulla, Zelle Hofmann attorneys working on the matter include senior partner Craig C. Corbitt, partner Judith A. Zahid, and associates Patrick B. Clayton, Qianwei Fu, and Heather T. Rankie, all of the firm’s San Francisco office.
In January 2012, the federal district court in San Francisco granted preliminary approval to settlements with seven defendants totaling $538.5 million. With the addition of the three settlements announced today with the AU Optronics, LG Display, and Toshiba defendants, for a combined $543.5 million, and subject to Court approval, the indirect-purchaser LCD antitrust class action will be fully settled, and a new record for the largest all-cash consumer recovery will have been set at $1.082 billion.