Shit! Mike Lacey flees the courtroom after losing a huge verdict
Photo by Charles Russo
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A San Francisco jury this afternoon found the San Francisco Weekly and its corporate parent guilty of illegal predatory pricing and awarded us $6.39 million.
Under state law, part of that verdict is subject to treble damages, bringing the total award to $15.6 million.
The battle isn’t over; Rod Kerr, attorney for the Weekly, told me immediately afterward that the 16-paper chain intends to appeal.
But the verdict sends a clear signal to small businesses, independent newspapers and the alternative press that a locally owned publication has the right to a level playing field and that a chain can’t intentionally cut prices and sell below cost to injure a smaller competitor.