Philips receives update on alleged CRT market violations - Embedded.com

Philips receives update on alleged CRT market violations

LONDON — Royal Philips Electronics says it has received a statement of objections from the European Commission about alleged violation of competition rules in the cathode-ray tubes (CRT) industry.

The company is to study the statement of objections in detail and will prepare its response and says it takes the investigations into possible violations of these laws very seriously. The company intends to continue assisting the regulatory authorities in these investigations.

In its the semi-annual report issued on July 13, 2009, Philips reported that it had been named in over 50 class-action antitrust complaints filed in various federal district courts in the US. These actions allege anticompetitive conduct by manufacturers of CRTs

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