The Plan of Distribution explains how the money that Defendants paid to settle these lawsuits will be distributed to persons and businesses that indirectly bought LCD Flat Panels.
Defendants have paid $1.082 Billion into the Settlement Fund. The amount of money in the Settlement Fund available for distribution to claimants may increase due to interest earned. It also will decrease due to the following payments that will be made with Court approval: (1) payments of attorneys’ fees to the lawyers who brought the cases being settled; (2) reimbursement of the out-of-pocket expenses of those lawyers and payments for class representatives; (3) costs of providing notice of the settlements, maintaining the website and collecting and processing claim forms; (4) payments to governmental consumers in eight states that indirectly purchased LCD Flat Panels (which is expected to be less than 5% of the fund); and (5) any other Court-approved payments. The lawyers’ requests for payments from the Settlement Fund can be viewed on this website.
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. Once all valid claim forms have been reviewed, the claims administrator will compute a straight pro rata distribution of the available funds. The minimum payment amount then will be determined -- it is currently expected to be $25. Thus, a hypothetical claimant whose pro rata recovery might have been only $15 would instead receive the $25 minimum. Although the $25 minimum is a reasonable estimate, the actual amount cannot be determined until all claims have been processed. A maximum payment amount of three times a claimant’s estimated money damages also will apply. The Court’s approval for minimum and maximum payments will be requested when data from the claim experience is available.
Any unclaimed money remaining in the Settlement Fund after payments are made to class members will be distributed according to the directions of the Court after a duly-noticed motion which will be posted on this website. No money will go back to Defendants.
Currently, there are appeals pending relating to the Settlements and no payments can be made until all appeals have been resolved. The appeals process is anticipated to be lengthy. Updates will be posted on this site as they become available.