In In re: TFT-LCD (Flat Panel) Antitrust Litigation, Northern District of California jury awarded Best Buy Co. $75 million in damages against HannStar Display Corp., finding that HannStar participated in an Asia-based conspiracy to fix prices on LCD panels. The jury’s award is a fraction of the $770 million Best Buy sought in its suit because in calculating damages the jury sided with the defense, finding that Best Buy passed 93 percent of the added price-fixed costs along to its consumers. As part of its ruling, the jury also found that co-defendant Toshiba Corp. did not participate in the same conspiracy. Finally, the jury rejected Best Buy’s claims that the defendants violated Minnesota antitrust laws by also selling it products containing price-fixed LCD panels from other companies.
Best Buy, Toshiba and HannStar were the last remaining parties in the sprawling MDL launched in 2006 following an investigation by the DOJ and European, Japanese and South Korean antitrust regulators that ended with criminal penalties for the Japanese, South Korean and Taiwanese LCD makers.