Dell Sues Five Flat-Panel Makers
NEW YORK (
) -- PC manufacturer
Dell
(DELL) - Get Report
plans to sue
Sharp
(SHCAY)
,
Hitachi
( HIT),
Toshiba,
Seiko Epson
and
HannStar
for the suspected price- fixing of LCD (liquid crystal displays) displays, according to
Reuters.
Dell filed the suit with a San Francisco district court Friday, without specifying the level of damages it was seeking, according to
Reuters.
Toshiba and Seiko Epson say they are looking into the matter; Sharp and Hitachi say they are cognizant of the planned lawsuit and left it at that; and HannStar representatives were not immediately available to comment according to
Reuters.
Dell alleges that the flat-panel display manufacturers were working together to fix and inflate prices of products that Dell had been buying from them since 1996, according to
Bloomberg
. The report says that some of these companies had pled guilty and were fined in a U.S. price-fixing probe in connection with the panels.
Dell stock has inched 0.4% lower to $14.21 on Monday morning, while Sharp American Depository Receipts have risen by 1.1% to $11.90.
Hitachi American Depository receipts fall 1.5% to $35.80.
-- Reported by Andrea Tse in New York
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