ATTORNEY GENERAL RAOUL: $43 MILLION TO BE DISTRIBUTED TO ILLINOIS CONSUMERS IN SETTLEMENT OVER FIXED PRICES FOR CRT TELEVISIONS AND MONITORS
Chicago — Attorney General Kwame Raoul today announced that Illinois consumers and businesses will soon receive payments as part of a $43 million settlement with manufacturers of cathode ray tubes (CRTs), which are specialized parts used in older televisions and computer monitors.
The payments are part of settlements Raoul’s office has reached with international electronics companies Hitachi, LG, Philips, Samsung, Toshiba and Panasonic to resolve a 2012 lawsuit that alleged a conspiracy to illegally fix the prices of CRTs in televisions and monitors. The price-fixing conspiracy increased the costs of products containing CRTs, causing Illinois consumers to pay significantly more than they would have if prices had been set through normal competition.
“I am pleased that Illinois consumers and businesses that unfairly paid high prices for television and computer monitors because of illegal price-fixing will now receive the relief they deserve,” Raoul said. “I am committed to continuing to hold accountable companies that conspire to raise prices and force people to overpay for products.”
According to Raoul, the Circuit Court of Cook County has approved the distribution of approximately $43 million in settlement payments to those who filed claims before the July 12, 2018 deadline. Illinois consumers and businesses submitted approximately 8,000 valid claims for more than 1 million CRT monitors and televisions purchased during the relevant period. Claimants can expect to recover approximately $14 per CRT television and $42 per CRT monitor. Every claimant will recover a minimum of $20.
The settlement distribution had been delayed by entities that intervened in the lawsuit after the claims administrator denied their claims. The matter was on appeal in the 1st District Appellate Court, which has since affirmed the lower court’s denial of the claims. The Circuit Court of Cook County has now ordered that the settlement funds be distributed.
Settlement checks will be mailed during the third quarter of 2022. Raoul urges individuals and businesses that receive checks to cash them promptly, as the checks will expire 90 days after issuance.
Raoul encourages residents who have questions, have relocated or have a new mailing address since filing a claim to contact the state’s appointed claims administrator, KCC Class Action Services, by calling 1-866-652-8226 or by emailing firstname.lastname@example.org. Additional information related to the settlement can be found at www.illinoiscrtsettlement.com.
Bureau Chief Elizabeth L. Maxeiner and Assistant Attorneys General Joseph B. Chervin and Paul J. Harper are handling the case for Raoul’s Antitrust Bureau.