Class Counsel Announce Filing of Class Action Complaint Charging Leading Manufacturers of Cathode-Ray Tubes Participated in a Global Cartel to Fix Prices.SAN FRANCISCO -- Class counsel for businesses and individuals that purchased cathode-ray tubes ("CRTs") and products containing CRTs from manufacturers announced the filing today of a class action complaint alleging defendants operated a global cartel to fix the prices of CRTs sold in the United States. "With the rapid fall in demand for CRTs in the United States over the past decade due to the introduction of technologically superior products, prices for CRTs should have rapidly declined as well," stated plaintiff's counsel Joseph R. Saveri of Lieff Cabraser Heimann & Bernstein, LLP LLP - Lower Layer Protocol . "Instead, for almost a decade, we have seen periods of unnatural and sustained price stability, as well as inexplicable increases in the prices of CRTs." CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. technology has been in use for more than 100 years. CRTs can be found in a wide range of products including computer monitors and televisions. "Despite the enormous size of the CRT industry, it is dominated by a small group of manufacturers," Saveri added. "The complaint charges that these manufacturers participated in a global cartel to fix the prices of CRTs." The complaint alleges defendants' collusive col·lu·sive adj. Acting in secret to achieve a fraudulent, illegal, or deceitful goal. col·lu  sive·ly adv. behavior
artificially inflated the price of CRT products, causing plaintiff and
other direct purchasers to pay more than they should have. The
defendants include multinational electronics corporations Chunghwa, LG
Electronics, Matushita, Philips Electronics, Samsung and Toshiba. A
number of these companies have been the subject of coordinated
enforcement actions by the United States Department of Justice “Justice Department” redirects here. For other uses, see Department of Justice.The United States Department of Justice (DOJ) is a Cabinet department in the United States government designed to enforce the law and defend the interests of the United States and competition authorities in Europe, Japan and South Korea. Chunghwa recently confirmed it had a received a subpoena subpoena (səpē`nə) [Lat.,=under penalty], in law, an order to a witness to appear before a court. A subpoena ad testificandum [Lat. relating to CRTs issued by a California district court. A federal grand jury operating under the auspices of the United States Department of Justice, Antitrust Division ("DOJ (Department Of Justice) The legal arm of the U.S. government that represents the public interest of the United States. It is headed by the Attorney General. ") through its San Francisco office issued the subpoena. [TABLE OMITTED] Further information on the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , including a copy of the consolidated class action complaint, can be obtained at www.lieffcabraser.com/antitrust/crt.htm. Contact Class Counsel Antitrust laws antitrust laws n. acts adopted by Congress to outlaw or restrict business practices considered to be monopolistic or which restrain interstate commerce. The Sherman Antitrust Act of 1890 declared illegal "every contract, combination.... are designed to protect the economy and to promote competition among businesses by prohibiting price-fixing and other forms of anticompetitive an·ti·com·pet·i·tive adj. That discourages competition among businesses: anticompetitive foreign trade restrictions. conduct. Individuals, businesses, public agencies and other entities that have purchased CRTs or products incorporating CRTs are welcome to contact plaintiffs' counsel. Learning of your experience in purchasing these products will assist us in prosecuting the litigation. We will review your claim without charge or obligation. You may contact Lieff Cabraser partner Eric B. Fastiff at 1-800-541-7358 or at efastiff@lchb.com. About Lieff Cabraser Lieff Cabraser Heimann & Bernstein, LLP is a fifty-plus attorney law firm with offices in San Francisco, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Nashville. The firm represents businesses, governments and individuals as plaintiffs in class and group actions as well as in individual lawsuits in cases involving substantial losses. Since 2003, the National Law Journal has annually selected Lieff Cabraser as one of the top plaintiffs' law firms in the nation. Lieff Cabraser has played a prominent role in federal litigation under the Sherman Act on behalf of businesses in numerous markets including computer components, prescription drugs, polypropylene carpets, compact discs, credit cards, linerboard lin·er·board n. A type of paperboard used in making corrugated cartons. , carbon fiber, plastic laminates, flat glass, industrial pigments and vitamins. The firm has also successfully litigated antitrust claims against Microsoft Corporation for monopolistic practices, and achieved record recoveries against El Paso Gas Co. and wholesale electric companies for allegedly manipulating the price of energy in California. Learn more at www.lieffcabraser.com. |
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