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US: Comcast puts 11-year-old antitrust suit behind

 |  October 29, 2014

Comcast has reportedly settled an antitrust lawsuit that has dragged on for more than a decade.

According to reports, the cable giant agreed to pay $16.7 billion to settle a lawsuit filed by consumers in Philadelphia. The case, first filed in 2003, accused cable conglomerates like Comcast of dividing and allocating the market amongst each other, limiting competition and allowing the competitors to secure higher prices from customers.

Comcast was accused of pursuing monopoly power through the alleged collusion.

The Supreme Court eventually intervened in the case, ruling in favor of Comcast in 2013. But plaintiffs vowed to continue to fight Comcast by seeking re-certification of a narrower class.

The plaintiffs had originally sought $875 million in damages. With Comcast’s $16.7 million offer, the company continues to deny the allegations; the settlement also reportedly includes services to consumers worth $33.3 million.

Full content: Ars Technica

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