In May 2017, the State of Illinois reached a tentative settlement agreement with the last remaining Defendant in the last remaining proceeding in the multidistrict TFT-LCD price-fixing antitrust litigation. This capped roughly ten years of Compass Lexecon involvement, from the class certification phase of the case through this final settlement. Professor Dennis Carlton testified in three trials, and a number of arbitration hearings and depositions. Professor Janusz Ordover testified on behalf of the Joint Defense Group on class certification issues. In addition, Professor Bobby Willig testified on behalf of Sharp Corporation, and Professor Dan Rubinfeld testified on behalf of Samsung.
In the direct-purchasers class litigation, Professor Carlton testified for Defendant Toshiba at trial in 2012. While Plaintiffs and their economic experts argued for overcharges of nearly $900 million – and thus damages of more than $2.5 billion after trebling – the jury determined that overcharges were only $87 million. Polling of jurors revealed that Carlton’s testimony was “very influential in the deliberations.”
In the Best Buy LCD price fixing litigation, Carlton testified for Defendants Toshiba and Hannstar at trial in 2013. Plaintiff Best Buy’s economic expert argued for damages of roughly $900 million post-trebling, based on an overcharge percentage of approximately 20%. The jury found no liability for Toshiba, and, for HannStar, which admitted liability, the jury awarded only direct damages in precisely the amount based on Professor Carlton’s analysis – $7.47 million.
Throughout the many phases of the case, Compass Lexecon worked with teams from White & Case, LLP, Freitas Tseng & Kaufman (now Freitas Angell & Weinberg LLP), Covington & Burling LLP, Paul Hastings LLP, Cleary Gottlieb Steen & Hamilton LLP, Munger Tolles & Olson LLP, Nossaman LLP, Davis Polk & Wardell LLP, Simpson Thacher & Bartlett LLP, Morrison & Foerster LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmer Cutler Pickering Hale & Dorr LLP, and Pillsbury Winthrop Shaw Pittman LLP, among others.
Professor Carlton was supported by many people over the years in teams at Compass Lexecon’s Washington D.C., Boston and Chicago offices, including Mark Israel, Ian MacSwain, Allan Shampine, Chris Cavanagh, Georgi Giozov, Guillermo Israilevich, Quinn Johnson, Joel Papke, Loren Poulsen, Chandni Raja, Theresa Sullivan, Ben Wagner, and many others. Professor Ordover was supported by a team including Mark Israel, Loren Poulsen, Joel Papke, and Jeff Raileanu. Professor Willig was supported by a team including Jay Ezrielev and Cathy Barron. Professor Rubinfeld was supported by a team including Dan Ingberman, Mark Rodini, and Kelvin Huang.