Tech distributor Avnet wins $268 million antitrust trial verdict

A U.S. jury on Monday awarded nearly $268 million in damages to electronic components distributor Avnet Inc in its lawsuit accusing a leading technology manufacturer of artificially inflating prices as part of a global price-fixing conspiracy.

The jury verdict in San Francisco federal court against defendants Nippon Chemi-Con Corp and its Illinois-based subsidiary United Chemi-Con Inc came after two days of deliberation at the end of a two-week antitrust trial.

Phoenix-based Avnet, among the country’s largest distributors of connectors and semiconductors, had alleged that from 2001 to 2014 it was overcharged for capacitor components widely found in electronic devices including household appliances, mobile phones and personal computers.