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HP Scores Big Win Over Quanta

SAN FRANCISCO: Technology giant HP has scored a landmark win over Quanta Storage, with a US court ordering the Taiwanese outfit to hand over US$439 million and surrender most of its assets.

The judgment came after the Taiwanese disk-drive maker failed to post an $85 million bond to prevent early collection of the crippling award.

Quanta tried repeatedly in April to delay HP’s push to collect on the judgment, due to coronavirus travel and business restrictions in Taiwan and China.

HP said it was pleased that the panel agreed with the trial judge and jury, as Quanta had violated US antitrust laws by conspiring to fix prices.

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