Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Circuit City and Toshiba settle in CRT price-fixing action, (Jan 7, 2015)

By Linda O’Brien, J.D., LL.M.

The bankruptcy trustee for Circuit City Stores, Inc. has agreed to settle the retailer’s antitrust claims in the multidistrict class action litigation against Toshiba Corporation and other cathode ray tube (CRT) manufacturers for an alleged international price fixing conspiracy, according to a stipulation of dismissal filed by Circuit City and Toshiba in the federal district court in San Francisco (In re Cathode Ray Tube (CRT) Antitrust Litigation, January 2, 2015).

Former retailer Circuit City and numerous other plaintiffs filed a multidistrict class action against cathode ray tube (CRT) manufacturers that involved allegations of an international conspiracy to fix prices on CRT’s included in products purchased by Circuit City and other manufacturers, distributors, and retailers.

Alfred H. Siegel, the trustee for the Circuit City Stores Inc. Liquidating Trust, voluntarily agreed to dismiss the retailer’s antitrust claims against Toshiba and its domestic subsidiaries. However, the stipulation is not a dismissal of any person or entity other than Toshiba.

The case is No. C-07-5944-SC.

Attorneys: Kenneth S. Marks and Jonathan R. Ross (Susman Godfrey LLP) for Alfred H. Siegel, trustee of the Circuit City Stores Inc. Liquidating Trust. Christopher M. Curran, Lucius B. Lau, and Dana E. Foster (White & Case) for Toshiba Corporation.

Companies: Circuit City Stores, Inc.; Toshiba Corporation

News: Antitrust CaliforniaNews