|Grand Rapids, MI - November 19, 2012 - West Michigan businesses and consumers who purchased LCD televisions, monitors, and laptops from 1999 to 2006 may be entitled to cash payments from a billion dollar settlement fund. The fund was created through settlements with ten manufacturers of LCD (thin-film transistor liquid display) flat panels after years of investigations and hearings. The deadline to file claims is December 6, 2012, so consumers and businesses are urged to act quickly. The easiest way to file a claim is to use the online claim form at www.lcdclass.com. Consumers may also call 1-855-225-1886 for additional information.
Defendant companies paid $1.082 Billion into the Settlement Fund. The amount of money in the Settlement Fund available for distribution will decrease due to attorneys' fees and any other Court-approved payments, expected to reduce the fund by hundreds of millions of dollars. Courts will decide how much the attorneys are compensated. The money left in the Settlement Fund after these deductions will be used for payments to the Statewide Damages class members who submit valid claims. The number and type of products you bought containing an LCD Flat Panel will determine how much money you can receive. TVs will count at twice the rate of notebook computers and monitors. It is expected that every validly-submitted claim will be eligible to receive at least $25, but claimants will be eligible to receive more than $25 based on the number of products bought. Eligible businesses and consumers may collect $25, $100, $200 or more depending upon the number of televisions, monitors, and laptop computers purchased. Businesses with large purchases could recoup thousands of dollars. Consumers and businesses are eligible for payments if they were residents of or located in Michigan (or one of the other 23 settling states) at the time of purchase. The claims process is simple and can be completed online. Consumers will be asked a few questions about the number of LCD flat screen TVs, monitors, and laptops they purchased from 1999 to 2006.
The Settling Defendants that manufactured the flat panels for use in LCD flat screen TVs, monitors, and laptops are: AU Optronics Corporation, Hitachi Ltd., Sharp Corporation, Toshiba Corporation, Samsung Electronics Corporation, Epson Imaging Devices Corporation, LG Electronics, Chunghwa Picture Tubes, HannStar Display Corporation, and Chi Mei Optoelectronics.