Legal & Courts  January 5, 2020

Judge sides with HP, triples price-fixing award

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HOUSTON — A U.S. district court judge in the Southern District of Texas has sided with HP Inc. (NYSE: HPQ) and awarded $439 million in damages against Quanta Storage Inc. (6188: TWO) and its U.S. subsidiary. The award is triple what a jury had determined HP was due as a result of an effort by Quanta and others to inflate optical disk drive prices.

Bloomberg reported  that Quanta was the only company not to settle with HP over the price-fixing scheme. 

HOUSTON — A U.S. district court judge in the Southern District of Texas has sided with HP Inc. (NYSE: HPQ) and awarded $439 million in damages against Quanta Storage Inc. (6188: TWO) and its U.S. subsidiary. The award is triple what a jury had determined HP was due as a result of an effort by Quanta and others to inflate optical disk drive prices.

Bloomberg reported  that Quanta was the only company not to settle with HP over the price-fixing scheme. 

Ken Amundson is managing editor of BizWest. He has lived in Loveland and reported on issues in the region since 1987. Prior to Colorado, he reported and edited for news organizations in Minnesota and Iowa. He's a parent of two and grandparent of four, all of whom make their homes on the Front Range. A news junkie at heart, he also enjoys competitive sports, especially the Rapids.
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