Indirect Purchaser Plaintiffs Announce Settlements Totaling $563 Million In Cathode Ray Tube Price-Fixing Case

Electronics manufacturers Philips, Panasonic, Samsung, Hitachi and Toshiba have agreed to collectively pay $528 million to settle a class action alleging that the manufacturers unlawfully fixed the prices of cathode ray tube (“CRTs”) and caused indirect purchasers to pay too much for CRT products such as televisions and computer monitors.  “After more than seven years of hard-fought litigation, we are extremely pleased with the settlement, which will provide meaningful cash relief to class members if approved,”  stated Andrus Anderson LLP partner, Jennie Lee Anderson, who represents the indirect purchaser plaintiffs in the case along with cocounsel.  Total settlements for the indirect purchaser plaintiffs in the multidistrict litigation captioned In re Cathode Ray Tube (CRT) Antitrust Litigation amount to $563 million.  If District Court Judge Samuel Conti grants preliminary approval of the settlement, notice will be distributed to the class later this year.