Hitachi-LG Strikes $26M Deal In Disk-Drive Antitrust MDL
By Melissa Lipman (January 18, 2013, 3:51 PM EST) -- Hitachi-LG Data Storage Inc. on Thursday agreed to pay $26 million to exit multidistrict antitrust litigation over optical disk drives, making the Korean joint venture the first to settle with direct purchasers in the price-fixing case.
The putative direct purchaser class asked the California district court for preliminary approval of the deal, which also releases LG Electronics Inc. and Hitachi Ltd. from the case alleging price-fixing of optical disk drives and related products such as DVD players and computers.
In addition to the cash payment, the settlement also calls for the companies to help the plaintiffs with their case, including producing...
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