Judge Cuts Judgment Against Billionaire Slim
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A Texas judge slashed a $454-million judgment imposed by a jury against Mexican billionaire Carlos Slim Helu and the companies he controls to $121 million in a breach-of-contract lawsuit. State District Judge Carlos Lopez said Slim, believed to be the richest man in Latin America, should pay $85.5 million and his Grupo Sanborns and Grupo Carso should pay $18 million each to Dallas-based COC Services Ltd.
Lopez found that computer retailer CompUSA and its former Chief Executive James Halpin owed nothing to COC. The judge’s ruling did not include an explanation of his decision.
Sanborns, a unit of Grupo Carso, which is controlled by Slim, bought CompUSA in March 2000 for $800 million. A jury found in February that Slim, with Halpin’s help, had squeezed COC Services out of an exclusive agreement to open CompUSA franchises in Mexico.
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