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Best Buy Drops Ultimate Suit

7/20/2010 09:02:43 AM Eastern

Minneapolis - Best
Buy has withdrawn its unfair advertising lawsuit against Ultimate Electronics now
that the Colorado-based chain ended a questionable price-comparison campaign.

According to a
joint court filing cited by the Minneapolis-St. Paul Business Journal, both
parties have agreed to resolve the suit and pay their own legal fees.

The case stemmed
from Ultimate's advertised claims that it price-shopped Best Buy and Walmart
daily in order to offer lower prices.

Best Buy sued
Ultimate in April
, arguing that its own surveys, plus price comparisons by
the Better Business Bureaus of Minnesota and North Dakota, proved its pricing
was often lower than Ultimate's.

Ultimate denied
allegations of false and misleading advertising, and both parties acknowledged
in the joint filing that Ultimate ended the campaign "without admitting any
liability," the Journal reported.

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