CHARLESTON, SC--(Marketwired - November 12, 2014) - SIB Fixed Cost Reduction, a company specializing in reducing recurring monthly expenses for multiple-location companies, announced today that they have successfully secured over $2.5 million for their clients, stemming from a class action settlement regarding LCD screen purchases.
The settlement was initiated when several state attorneys general, along with private attorneys, sued LCD screen manufacturers for illegal price-fixing practices in which the companies coordinated to limit the supply of LCD flat-screens for computers and televisions from 1999 to 2006. Individuals and companies who purchased LCD screens from these companies during that time period were eligible for a share of the resulting settlement based on the number of products they purchased.
SIB assisted several of its clients in filing claims and securing settlement funds, which were released by the claims administrator earlier this week. While SIB's normal services consist of reducing fixed monthly costs by negotiating optimal pricing for its clients, the class action claims process fits into SIB's mission of seeking all available refunds and credits due to its clients. In this case, a variety of SIB's clients were eligible, including restaurant chains, a national retailer, a hotel group, and a university.
"It's always exciting to present out clients with found money that goes straight to their bottom line," said Dan Schneider, CEO of SIB. "In this case, it took most of our clients less than an hour to provide the basic information, and our team handled the rest of the work involved with filing the claim."
About SIB Fixed Cost Reduction
SIB Fixed Cost Reduction is a firm specializing in reducing external expenses for clients with large facilities or multiple locations, such as restaurant groups, hospitals, universities, government agencies, Fortune 500 companies, and other organizations. Unlike other consulting firms, SIB only bills based on the savings they find, and clients are not billed until savings are realized. Through expert analysis, SIB will discover if businesses have overpaid or are currently overpaying on services such as telecom, utilities, waste removal, maintenance contracts, and other recurring bills. For more information about SIB, visit their web site at www.aboutSIB.com