Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Best Buy settles cathode ray tube price fixing claims against Chunghwa, (Mar 14, 2016)

By Linda O’Brien, J.D., LL.M.

Retailer Best Buy Co. has agreed to settle its claims against Taiwanese television parts manufacturer Chunghwa Picture Tubes in the multidistrict class action litigation against cathode ray tube (CRT) manufacturers for an alleged international price fixing conspiracy, according to a stipulation and proposed order filed in the federal district court in San Francisco (In re Cathode Ray Tube (CRT) Antitrust Litigation, March 11, 2016, Tigar, J.).

Best Buy and other retailers had filed suit against Chunghwa, Hitachi, Ltd., and numerous CRT manufacturers, asserting claims under the Sherman Act and various state laws. The retailers alleged that they were indirect purchasers of CRTs made by the defendants that were ultimately incorporated into finished products.

According to the filing, Best Buy and Chunghwa have entered into a comprehensive, confidential written settlement and expect to file stipulations of dismissal with prejudice within 30 days. The parties also requested that a March 28 hearing on Chunghwa’s pending motion for summary judgment be cancelled.

The details of the written settlement were not disclosed in the stipulation.

The case is No. 3:07-CV-5944, MDL No. 1917.

Companies: Best Buy Co. Inc.; Chunghwa Picture Tubes, Ltd.

News: Antitrust CaliforniaNews