Pittsburgh Law Office of Alfred G. Yates Jr., PC Commences Class Action Suit Against LG.Philips LCD Co., Ltd. - LPL

Business Wire, Feb 8, 2007

PITTSBURGH -- Notice is hereby given by the Law Office of Alfred G. Yates Jr., PC that it has commenced a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of LG.Philips LCD Co., Ltd. ("LG.Philips") (NYSE:LPL) publicly traded securities during the period between July 16, 2004 and December 11, 2006 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than April 9, 2007. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Alfred G. Yates, Jr. at 1-800-391-5164 or via e-mail at yateslaw@aol.com. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges LG.Philips and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants made positive statements concerning the Company's LCD business while, unbeknownst to investors, defendants were using artificial antitrust mechanisms, including price fixing, to support the Company's already inflated margins. However, by late spring 2006, as the Company's executives became aware of fines and jail sentences imposed for price fixing in the industry, they began ceasing their price-fixing behavior and rumors about the reasons for the sudden "weak pricing" in the LCD marketplace circulated throughout the markets. Without artificial anticompetitive mechanisms in place, the Company's profits began to fall and its share price declined from $22 to $15.

According to the complaint, during the Class Period, defendants concealed the following material adverse facts from the investing public: (a) from on or about June 2004 until on or about June 2006, LG.Philips and its co-conspirators entered into and engaged in a combination and conspiracy in the United States and elsewhere to suppress and eliminate competition by fixing the prices of LCD panel products to be sold to resellers and consumers; and (b) as a result, the Company's shares traded at inflated prices, enabling the Company to consummate its initial public offering raising $1 billion, its secondary offering raising $1.4 billion, and obtain an additional $500 million in other securities offerings on terms otherwise unobtainable but for defendants' conduct, including the use of defective prospectuses for each such offering.

Plaintiff seeks to recover damages on behalf of all purchasers of LG.Philips publicly traded securities during the Class Period (the "Class").