Checkpoint Systems Sued in Third Class Action Since ID Systems
TORONTO — Another federal antitrust complaint was filed in New Jersey against Checkpoint Systems Inc. The case, Baby Mika Inc. v. Checkpoint Systems Inc., is the third class-action lawsuit filed against Checkpoint since an $80 million antitrust judgment was entered in favor of ID Security Systems Canada Inc. in May.
The case has already been assigned to a judge.
The ID Systems case is now in the post-trial motions phase. At a hearing in mid-September, the judge strongly encouraged ID Systems and Checkpoint to settle the case, but no negotiations are scheduled at this time.
In a motion filed after the September hearing, Checkpoint asked the judge for permission to file its latest brief under seal to prevent public disclosure, but that motion was denied on October 1. Checkpoint continues to downplay the significance of its $80 million loss.
Even in this post-Enron era, Checkpoint’s CEO and CFO both admitted during their second quarter earnings conference call that no contingent liability has been recorded for the $80 million judgment in Checkpoint’s financial statements.
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