Editor's note: This article has been revised to correct the name of the claim services company which handled Cook County's claim.
CHICAGO — Cook County will receive about $2 million under a recent settlement with manufacturers of liquid crystal display (LCD) monitors.
The Illinois Attorney General's Office filed a lawsuit in 2013 alleging a number of LCD manufacturers fixed and inflated prices for the monitors for nearly a decade.
Toni Preckwinkle | Cook County
Class members included Illinois residents and businesses and government entities. There were approximately 18,500 claims filed, according to the Illinois Attorney General's Office.
“By being able to verify and substantiate the LCD screens purchased by the county we are collecting nearly $2 million for our public health and safety efforts,” said Cook County Board President Toni Preckwinkle in a prepared statement. “As we prepare for another difficult budget year, we will continue to leave no stone unturned when pushing for fiscal responsibility and savings.”
A Cook County spokesman told the Cook County Record that the county doesn't ordinarily get much money from settlements like this, and doesn't rely on them for budgetary purposes.
The spokesman said the money would go to the General Fund to support county operations.
The typical range for recovery rates for class action settlements is between 5 and 10 percent of the published maximum payouts per unit, the spokesman said. The county initially expected to receive $400,000-$850,000.
The spokesman said Financial Recovery Strategies filed the case on behalf of other claimants and worked with the county to determine its eligibility of the case.
“This is a win for taxpayers and a helpful boon to the county’s finances,” Commissioner Tim Schneider said in a press release. “I was pleased to bring the class action lawsuit to the attention of the county’s chief financial officer and to ultimately receive this substantial settlement.”