Facts

A class of instant ramen noodle purchasers filed certified class actions against several Korean ramen companies in relation to alleged price fixing in violation of antitrust laws.

PLAINTIFF'S CONTENTIONS: Class members alleged that defendants conspired in setting the prices of its noodle products. Plaintiffs claimed that between 2002 and 2005 defendants provided altered documents to the Korean Trade Commission in an attempt to conceal its price fixing. Plaintiffs further claimed that defendants attempted to hide pertinent evidence from them.

DEFENDANT'S CONTENTIONS: Defendants denied the allegations.

Damages

Plaintiffs sought more than $416 million in antitrust damages, and attorney fees.

Result

A jury found in favor of defendants. The jury concluded that plaintiff's failed to prove a conspiracy to fix the prices of Korean ramen noodles.

Other Information

Plaintiffs' suit stemmed from a Korean Fair Trade Commission's $120 million fine against Korean ramen companies based on reports of collusion. The Korean Supreme Court eventually reversed that finding and vacated the fine but plaintiffs continued to prosecute the U.S. antitrust case.