Hitachi-LG Strikes $26M Deal In Disk-Drive Antitrust MDL

Law360, New York (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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.