14 DAY TRIAL // Microsoft has managed to make a little elbow space and a tad room to breath in between class-action lawsuits by settling with the Iowa plaintiffs. In this context, Microsoft is down to just one pending state-court antitrust class action in Mississippi. The Iowa class-action lawsuit was filed initially in Des Moines no less than seven years ago, on behalf of thousands of plaintiffs seeking some $330 million in damages. Microsoft failed to let the jury pronounce themselves in relation to alleged violations of the Iowa Competition Law, according to which, the Redmond Company had used its monopolistic position on the market, to overcharge consumers for software products.
"We are confident that the settlement is in the best interests of all members of the class and we are deeply grateful for the quality and fairness of the judicial process in Iowa," said Roxanne Conlin, lead counsel for the class.
"The settlement will provide tremendous benefits for many people throughout the state of Iowa. We are pleased with the results of this litigation and we are pleased that the process worked so well," Rick Hagstrom, class co-counsel of the firm Zelle Hofmann Voelbel Mason & Gette.
Neither part revealed the financial details of the settlement. Microsoft informed that the terms will be available to the public following the settlement's preliminary court approval in April 2007. The Redmond juggernaut will have to deliver compensations to both individuals and businesses in Iowa that have acquired company products between May 18, 1994 and June 30, 2006.
"One of the best aspects of resolving this case is that we can provide much needed resources to underprivileged schools," said Rich Wallis, associate general counsel for Microsoft. "We're happy to have this matter behind us so we can focus on the future and build the next generation of products and innovations that enrich the lives of people around the world."