P.M. BRIEFING : Windmere Wins Shaver Suit
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MIAMI LAKES, Fla. — Windmere Corp. said today that a federal court has found that a Dutch electronics giant unfairly monopolized the rotary shaver market and awarded Windmere trebled damages totaling $89.7 million.
Hialeah, Fla.-based Windmere, a maker of personal-care products, said a jury in U.S. District Court for the Southern District of Florida found Friday that NV Philips’ Gloeilampenfabrieken had violated the Sherman Antitrust Act.
Philips is Europe’s biggest electronics company and the second-largest in the world.
“Our perseverance in this case has provided Windmere and its shareholders with a substantial victory,” Windmere Chief Executive David Friedson said in a statement.
The jury awarded Windmere damages of $29.9 million plus attorneys’ fees, and the court then trebled the award and entered judgment against Philips in the amount of $89.7 million, Windmere said.
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