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Toshiba to pay $1.3 million in price-fixing lawsuit affecting millions of Washingtonians

The Toshiba Corp. will pay $1.3 million in a price-fixing lawsuit against manufacturers of the cathode ray tube (CRT), a component used in television and computers screens, Washington State Attorney General Bob Ferguson announced Wednesday.

The lawsuit alleges Toshiba, along with CRT manufacturers like LG, Panasonic, Hitachi and others, "engaged in a scheme to drive up the cost of the products from 1995 to 2007" during which millions of Washingtonians were overcharged, the AG’s office reported.

“For more than a decade, these foreign manufacturers conspired to artificially inflate their prices,” Ferguson said. “We are returning the money back where it belongs: the pockets of Washingtonians.”

A consent decree that holds Toshiba liable for its role is expected to be filed in King County Superior Court, according to the AG’s office.

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The AG’s office said the companies held private meetings on price fixing, agreeing to restrict supplies to push up prices.

Those who purchased CRTS during 1995 to 2007 may get money back as the AG’s office plans to distribute the bulk of the funds through a claims process.

As to when the funds will be distributed, no date was given.

Back in 2016, the AG’s office said it also recovered $41 million on a comparable scheme surrounding LCD screens.