Best Buy Drops Philips From LCD Price-Fixing Case

Law360, Washington (December 21, 2012, 5:13 PM ET) -- Best Buy Co. Inc. has agreed to toss Koninklijke Philips Electronics NV from multidistrict litigation stemming from a widespread price-fixing scheme in the liquid crystal display industry, according to court papers filed Thursday in California federal court.

The MDL stems from a U.S. Department of Justice probe that resulted in hundreds of millions of dollars in criminal penalties. The civil case, which was consolidated in California in 2007, accuses several electronics makers of organizing a series of “crystal” meetings in order to hammer out pricing policies in...
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