Judge Triples Jury’s Award to HP Inc.
Bloomberg reports that a federal judge has tripled a jury’s award to HP Inc. for damages from $176 million to $439 million.
The case involves a lawsuit filed by HP in which HP alleged that Quanta Storage and its subsidiaries schemed to inflate the price of optical disk drives.
In October 2019, a Houston jury ruled in favor of HP and ordered Quanta Storage to pay HP $176 million in damages.
Last week, however, U.S. District Judge David Hittner said 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.”
According to Bloomberg, other disk-drive makers such as Hitachi-LG, Sony, and Panasonic settled with HP over the past decade. But Taiwan-based Quanta chose to go to trial.
“HP hopes this judgment sends a powerful message to suppliers all over the world that there are significant consequences when you violate US antitrust laws,” commented HP attorney Alex B. Roberts.
The case is Hewlett-Packard Co. v Quanta Storage, 4:18-762, U.S. District Court, Southern District of Texas (Houston).