US: Best Buy earns bittersweet win in LCD price-fixing case

After less than a day of deliberation, a jury found Taiwan-based HannStar Display Co. conspired to fix flat panel screen prices in a win for Best Buy Co. The win is bittersweet for the US electronics retailer, however, as the jury also found that Best Buy is not entitled to damages.

A jury found HannStar to have fixed flat screen prices for panels used in electronics like computers and televisions; Best Buy unsuccessfully brought the same price-fixing claims against Toshiba Corp., however.

Further, despite the findings, the jury resolved that LCD panel price-fixing did not directly effect trade within the US, thus Best Buy is not entitled to monetary damages.

The jury found that the retailer suffered $7 million in damages from the price manipulation.

Best Buy had also argued that it suffered $700 million at the hands of Toshiba’s alleged price-fixing, claims that were not upheld in court.

The trial lasted about six weeks.

Full Content: Businessweek

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