Phoenix electronics distributor Avnet Inc. notched a $268 million legal victory Tuesday in a case that alleged price fixing by companies that make components known as capacitors.

A jury in San Francisco federal court awarded the damages to Avnet against defendants Nippon Chemi-Con Corp. of Japan and its U.S. subsidiary, United Chemi-Con Inc. The jury found that Avnet suffered damages of $89.2 million and trebled that amount in the verdict.

An Avnet spokesperson thanked the judge and jury for their time but didn't comment otherwise.

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Avnet sold $24.3 billion in products and services during fiscal 2022 to customers in more than 140 nations. Its products include semiconductors, electronic components including capacitors and computers. Buyers include companies in the medical, defense and aerospace industries. Avnet has been one of the five largest buyers of capacitors in the U.S.

Capacitors store electrical energy and regulate the flow of electricity and are widely used in circuits and power-supply units. Avnet said it purchased more than $500 million of the devices from the conspirators from 2001 to 2014. The company charged the defendants shared confidential information on production levels, prices and customers to inflate capacitor prices, largely during secret meetings in Japan and other Asian nations.

Avnet relied on an analysis from Prof. Leslie Marx of Duke University, an expert in anti-competitive behavior, who estimated the company paid roughly 8% to 20% more than it should have, depending on the type of capacitor.

The jury agreed that the defendants knowingly participated in a conspiracy to fix, raise, maintain or stabilize capacitor prices. The latest action is part of a series of legal claims against those and other manufacturers that have resulted in various indictments, jury trials and even prison terms for some executives.

Avnet, which was founded in 1921 and moved its headquarters to Arizona in 1997, counts more than 15,000 global employees and about 1,300 in Arizona. The company maintains large warehouses in Chandler, in addition to its executive offices near Phoenix Sky Harbor International Airport.

Reach the writer at russ.wiles@arizonarepublic.com.

This article originally appeared on Arizona Republic: Avnet Inc. wins millions in price-fixing case involving capacitors