Chinese Co. Escapes $2.4B Judgment In Price-Fixing Row

Law360, Washington (February 2, 2018, 9:42 PM EST) -- A California federal judge has refused to enter a $2.4 billion default judgment against Irico Group Corp. and its subsidiary in cathode ray tube price-fixing litigation, despite the state-owned Chinese electronics company’s yearslong absence in the suit, giving the company another chance to defend itself.

A class of electronics parts purchasers had asked Judge Jon S. Tigar to enter the judgment against Irico Group and Irico Display Devices Co. Ltd. after securing over $200 million in settlements from other defendants in the case. Irico had disappeared...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.