Customers alleging that Walmart and Netflix have illegally tried to monopolize the DVD industry have filed a class action lawsuit. Specifically, the companies are being accused of violating antitrust laws by making deals amongst themselves. In 2005, Walmart decided to stop renting DVDs online while Netflix guaranteed it would not sell physical DVDs. The alleged purpose of this deal, which was made right when Blockbuster started to offer online DVD rentals, was to drive Blockbuster out of the market while maintaining a stronghold in the market.
Walmart has quickly offered an out of court settlement, which will cost the corporation between $29 and $40 million. The company will send gift cards or checks to “class members” of Netflix since 2005. Nexflix has stated that the lawsuit is meritless and the company will defend it, although it has a year to decide for sure.
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