HP Wins $439 Million As Judge Triples Jury Price-Fix Award
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, Bloomberg reports.
Sony, Panasonic and some other disk-drive makers settled with HP over the past decade. Only Taiwan-based Quanta chose to go to trial.
Quanta lost that trial in October when a Houston jury ordered Quanta to pay HP $176 million in damages. Now the federal judge in the case has tripled the damages award, as authorized under antitrust law, to $528 million before deducting $89 million in settlements paid by the other companies.
