Friday, March 28, 2003

Antitrust news

From Reuters:

NEW YORK - Checkpoint Systems Inc. said on Friday a federal judge has annulled an antitrust verdict against the labeling system maker but upheld another ruling, lowering damages to be paid by the company to $13 million from $80 million.

A judge in the U.S. District Court for the Eastern District of Pennsylvania annulled an verdict handed down by a jury last May for Checkpoint's allegedly antitrust activities in the market for electronic article surveillance tags.

The judge upheld a verdict on charges of violating state laws on tortuous interference and unfair competition, but reduced the award for these infractions to $13 million from $19 million.

Checkpoint, based in Thorofare, New Jersey, makes source tagging, bar code labeling systems and retail merchandising systems.

Shares of Checkpoint rose 47 cents, or 5 percent, to close at $9.85 on the New York Stock Exchange.

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