Over 1 Billion Transactions with over $80 billion in revenue analyzed by Infotech Consulting in Cathode Ray Tube Price-Fixing Case

Over 1 Billion Transactions with over $80 billion in revenue analyzed by Infotech Consulting in Cathode Ray Tube Price-Fixing Case

Not many of us still own a cathode ray tube (CRT) television, but many of us remember the big and bulky sources of entertainment from yesteryear. Makers of cathode ray tubes were accused of fixing the price of various sizes of cathode ray tubes from roughly 1995 to 2007, a time where these televisions and monitors were feeling the market pressure from flat panel televisions and monitors. Jim McClave and the Infotech Consulting team were engaged to perform damage analyses for 13 plaintiffs that opted out of the class action. The data spanned 18 years and involved analyzing defendant transaction data consisting of over 1 billion transactions with over $80 billion in revenue. Through the eight-year litigation period, settlements on behalf of class members and opt outs totaled over $800 million. Infotech Consulting’s thorough analysis of the data and expert synthesis of the material aided numerous plaintiffs in reaching advantageous settlements with over 10 defendants.


In re: Cathode Ray Tube Antitrust Litigation, Case No. 07-5944 SC and Case. No. 14-cv-02510  (US District Court for N.D. of California) 

Originally published in 2018



Landmark Settlements in Global Capacitors Price-Fixing Case Secured

Landmark Settlements in Global Capacitors Price-Fixing Case Secured

Just before the holidays, Infotech Consulting and its clients celebrated the successful conclusion to the sprawling In Re Capacitors Litigation, with the parties announcing a final settlement had been reached with Nippon Chemi-Con (“NCC”). This was the last of more than 20 defendants accused of participating in a global conspiracy to fix the prices of capacitors. Plaintiffs alleged that price-fixing in this multibillion-dollar market began as far back as 2002 and continued for over a decade. The conspiracy spanned hundreds of thousands of capacitor products of various size, capacitance, and materials. Even before the NCC settlements, other defendants had agreed to settlements totaling $439.6 million. With the NCC settlements, all defendants have agreed to refund over $600 million in overcharges.

So, what exactly is a capacitor? Well, you’ve likely relied on them every day without ever noticing it (including right now as you read this on your computer or phone). A capacitor is a device that stores electrical energy in an electric field. They range in size from miniscule (fitting into a phone) to extremely large (think jet engines). They are essential components of electrical systems like TVs, smart phones, cameras, appliances, cars, medical devices, lighting, computers, and so much more. And yes – there are numerous capacitors in one product. Trillions of them are manufactured each year.

The rigorous statistical basis for the damages and impact analysis resulting in the extraordinary settlements came from Dr. Jim McClave, Dr. Jamie McClave Baldwin, Dr. Allison Zhou and the work of the entire Infotech Consulting team, backed by extensive research, data analysis, consulting, and expert testimony spanning a period of over seven years. These efforts culminated in multiple expert reports, two depositions, and expert testimony in both a concurrent expert witness proceeding (“hot tub”) and, finally, at trial. “Hot tubbing” is a process that some courts are adopting in which judges hear sworn testimony from opposing experts simultaneously (think live debate), rather than the traditional direct and cross examination of each expert separately.

The trial was originally scheduled for March 2020, but was suspended due to the emerging pandemic. Fast forward 20 months later, and the parties were back in the courtroom for trial. Dr. Jamie McClave Baldwin worked tirelessly alongside our clients during the (over two week) trial, providing expertise, research and support at every turn and twist of the trial proceedings.

In announcing the landmark settlements reached, representatives from Joseph Saveri Law Firm stated, “We strongly believe these ground-breaking settlements will deter this type of collusive behavior in the future, to the benefit of us all.”

Infotech Consulting celebrates this win, not only for our clients but for the numerous consumers affected by the global conspiracy of manufacturers to fix, raise, and maintain prices of capacitors at an elevated level.

“This win represents what our team does best – use our expertise, knowledge, and passion to fight for what is right,” shared Dr. Jamie McClave Baldwin, Expert and President of Infotech Consulting. “We are proud to have been involved in this case from the beginning of discovery, through class certification and both trials – over seven years of work. Other firms came and went, but our team never backed down from the challenge. It was this dedication and effort that helped produce outstanding results for our extraordinarily talented clients and the class of direct purchasers.”

Re Capacitor Antitrust Litigation (2017) Case No. 3:17-md-02801, U.S. Dist. Ct. N. Dist. California.

Landmark Settlements in Global Capacitors Price-Fixing Case Secured

Dr. Caves’ Econometric Bond Pricing Analysis Among Expert Work Deemed “Essential” To Rapidly Securing $386.5 Million from World’s Largest Banks

GSE Bonds Antitrust Litigation was a class action in which 16 of the world’s largest banks and financial institutions allegedly conspired to fix the prices of debt securities issued by government sponsored entities (“GSEs”), such as the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. To fund operations critical to the financing of the US housing market, GSEs issue trillions of dollars in debt, underwritten by some of the largest financial institutions in the world.

Plaintiffs alleged that these underwriting financial institutions orchestrated a horizontal conspiracy to artificially inflate the price of GSE Bonds. Defendants allegedly used electronic communications (among other means) to set pricing floors when new bond issuances were brought to market in the “free-to-trade” phase. Dr. Caves developed an econometric bond pricing model to measure artificial inflation in GSE Bond prices attributable to the alleged conspiracy. Drawing on Dr. Caves’ peer-reviewed academic work, the econometric model applied a nonparametric representation of the price formation process to Defendants’ voluminous transactional data.

In late 2019—less than a year after the case was filed— 13 large banks and financial services companies initially agreed to pay $337 million to resolve claims by investors that they conspired to rig prices of bonds issued by mortgage companies. By January 2020, all 16 Defendants agreed to settle for a total of $386.5 million, resulting in a substantial recovery for investors nationwide. 

In granting final approval of the settlement, Judge Rakoff of the Southern District of New York noted the “high quality” of plaintiffs’ counsel’s work throughout the “fast pace[d]” litigation, and noted that “expert work…was essential to the resolution of this complex case.” In recognition of this accomplishment, counsel for Plaintiffs received the American Antitrust Institute’s award for Outstanding Antitrust Litigation Achievement in Private Law Practice.

Antitrust Webcast – January 19, 2021

Antitrust Webcast – January 19, 2021

Emerging Antitrust Issues Amid the COVID-19 Pandemic: What Companies and Financial Institutions Must Know and Do

Tuesday, January 19, 2021
12:00 pm – 2:00 pm (ET)

Key Topics:

  • Enforcement Priority Changes Due to COVID-19
  • Emerging Antitrust Issues
  • LIBOR Transition
  • Risk Management Strategies
  • Best Compliance Practices
  • Outlook


Dr. Robert Kneuper

Expert Economist/Expert Consultant
Infotech Consulting

Vikram Kapoor
Senior Managing Director

Ankura Consulting Group, LLC

Mahesh Parlikad
Jones Day

Aaron Healey
Jones Day


Tuesday, January 19, 2021
12:00 pm – 2:00 pm (ET)


Can’t attend? Register anyway and you will receive a recording of the webinar.

For more information, please visit The Knowledge Group website, call 1.800.578.4370 or email info@theknowledgegroup.org.

Infotech Supports Largest Single-State Antitrust Settlement in West Virginia’s History

Infotech Systems and Infotech Consulting Support the Recovery of $101.35 Million

GAINESVILLE, Fla.–(BUSINESS WIRE)–Infotech, a leader in infrastructure construction software solutions and expert statistical and econometric consulting services, announced today that its two businesses supported a record-breaking antitrust settlement in West Virginia which recovered taxpayer dollars totaling $101.35 million.

In the late 1970s, Infotech developed computerized techniques to assess fairness in competitive markets. These same techniques were used to support the West Virginia Department of Transportation (WVDOT) to assess bidding activity among a small group of contractors when price fixing was suspected. Through Infotech’s DOT agency services and Infotech Consulting’s expert statistical analysis, the company was able to support the state of West Virginia in reaching this settlement, which was the largest single-state antitrust settlement in West Virginia history.

“Price fixing raises prices at the taxpayer’s expense; discovering and proving this activity is at our core,” Will McClave said, Infotech Systems President. “Infotech has been building and using software to detect collusion since our first major antitrust case in 1981, which resulted in a then-record $30 million in settlements for a bid-rigging case. Throughout our history, our goal has been to pursue truth in the data and ensure taxpayer dollars are spent responsibly.”

One way state agencies can support a fair bidding process is through electronic bidding. WVDOT adopted Infotech’s secure online bidding service, Bidx.com®, in 2009.

“Many of you may remember back in 2013 when I instituted the state’s new competitive bidding policy for how outside counsel are paid,” West Virginia Attorney General Patrick Morrisey said. “Well, we now have saved over $30 million through that policy. Why? Because the state gets the benefit of competitive bidding. Over $20 million saved on this case alone. That’s an awesome thing. That means we have good government, we have competition and we’re actually saving taxpayer money.”

“Our settlement will go a long way to restore competition and recoup road funds to the benefit of every taxpayer who pays for and drives West Virginia’s roads,” Morrisey continued. “We can never afford to allow an unlawful monopoly to victimize West Virginia and maximize its profits on the backs of state taxpayers, especially when every dollar is needed to pave our roads and compete effectively with other states for business and tourism.”

To learn more about Infotech’s online bidding platforms, visit https://www.infotechinc.com/bidding. To learn more about Infotech Consulting’s expert statistical and econometric consulting services, visit infotechconsulting.com. To learn more about the settlement, visit the official West Virginia announcement.

About Infotech

Info Tech, Inc., DBA Infotech (Infotech) bridges innovation and integrity by developing cutting-edge digital solutions for the infrastructure construction industry and providing expert statistical and econometric consulting services across multiple industries. Infotech’s two core businesses, Infotech Systems and Infotech Consulting, use technology and data to bring transparency, integrity and efficiency to the people we serve. Informed by DOT relationships and decades of experience, Infotech Systems develops software solutions that bridge the gaps between owners, consultants, contractors, and other project stakeholders. Infotech is the developer of Appia®, Bid Express®, and Doc Express®, as well as the official contractor for AASHTOWare Project™. For more information on our SaaS offerings, visit infotechinc.com. For more information about our expert consulting services, visit infotechconsulting.com.


Lacey Jones
Director, Marketing & Communications