Toshiba Wins Favorable Verdict In Best Buy Lawsuit For LCD Price Fixing

(RTTNews) - Toshiba Corp. (TOSBF.PK), a Japanese electronics manufacturer, on Tuesday announced that a jury in the United States District Court for the Northern District of California (San Francisco) issued a verdict finding that the company did not participate in a conspiracy in the LCD panel industry.

Consumer electronics retailer Best Buy Co., Inc. (BBY) filed suit against Toshiba and other companies claiming to have been damaged through its purchases of products such as TVs and notebook computers as a result of price fixing in the LCD panel industry.

Toshiba now said the latest verdict is subject to further proceedings before the district court.

"Toshiba is grateful for the jury's efforts and consideration. Toshiba has consistently maintained that there was no illegal activity on its part in the LCD business in the United States, and Toshiba continues to hold that view," the company said in its statement.