LCD Maker Hit With Shareholder Class Action

Law360, New York (February 8, 2007, 12:00 AM EST) -- Already facing an antitrust lawsuit from consumers, technology display maker LG.Philips LCD now faces a class action suit from shareholders who say the company’s anti-competitive behavior led to a huge drop in its stock price.

The complaints allege that from about June 2004 to June 2006, LG.Philips and other LCD panel makers conspired to keep prices high for LCD panel products to suppress competition. Profits were artificially inflated and as a result, the company’s shares traded at inflated prices.

Fearing consequences, LG.Philips allegedly began to end...
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