HP Wins $439 Million as Judge Triples Jury Price-Fix Award

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HP Inc. was awarded $439 million in damages against Quanta Storage Inc. and its U.S. subsidiary after a federal judge tripled a jury’s 2019 award for damages caused by a widespread scheme to inflate the price of optical disk drives. In October, a Houston jury ordered Quanta to pay HP $176 million in damages. U.S. District Judge David Hittner said Friday that Quanta hadn’t shown any reason why the jury’s findings should be set aside. He tripled the damages award, as authorized under antitrust law, to $528 million before deducting the $89 million in settlements paid by the other companies HP accused of participating in the price-fixing scheme.

Source: https://www.bloomberg.com/news/articles/2020-01-03/hp-wins-438-million-after-judge-triples-jury-price-fixing-award?srnd=premium-middle-east

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