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Stock impact report

John Deere must pay farmers $99M in lawsuit for monopolizing equipment repair [Yahoo! Finance]

Deere & Company (DE) 
Last deere & company earnings: 2/21 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.deere.com/home/default.aspx
Company Research Source: Yahoo! Finance
The long-standing lawsuit concerns the " right to repair ," alleging that John Deere, also known as Deere & Company, monopolized the market for repair services by restricting consumer access to "crucial software" needed to fix purchased machinery. The plaintiffs argued that customers have been forced to pay John Deere for repair service when the work could have been done by the owners of the equipment or by an independent repair shop. By withholding the software and tools necessary to repair purchased machinery, John Deere cornered the market and would have been able to inflate prices accordingly. These tactics are especially harmful as consumers may feel they have no choice but to purchase new products, a trend popular among companies that use planned obsolescence — producing products destined to break or become unusable. This practice inherently prioritizes profit over consumer interest and the environment. Now, along with paying the $99 million, the court has ruled that th Show less Read more
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