Four New Settlements, Totaling $21.94 million, Reached in Canadian Electrolytic and Film Capacitors Class Actions
Foreman & Company is pleased to announce that four proposed national settlements totaling $21,940,000 have been reached in Canadian class actions concerning alleged price fixing of electrolytic and film capacitors. These are the fifth, sixth, seventh and eighth settlements reached to date in the electrolytic capacitors class action and the sixth and seventh settlements reached to date in the film capacitors class action.
An "electrolytic capacitor" and a "film capacitor" are two types of electronic components used in an electrical circuit to store a charge. They are found in smartphones, game consoles, home appliances and televisions, among other electronic products.
Pursuant to the proposed settlements, ROHM, Fujitsu, KEMET and Nichicon (together, the “Settling Defendants”) have separately agreed to pay CAD $450,000, CAD $465,000, CAD $6,200,000 and CAD $14,150,000 respectively for the benefit of electrolytic settlement class members. KEMET and Nichicon have also agreed to pay CAD $325,000 and CAD $350,000 respectively for the benefit of film settlement class members.
In addition, the Settling Defendants have agreed to provide cooperation to the plaintiffs in pursuing their claims against the non-settling defendants. The settlements are not admissions of liability, fault, or wrongdoing, but are compromises of disputed claims. The settlements must be approved by the courts before they become effective.
To be a member of these class actions, you must have purchased an aluminum and tantalum electrolytic capacitor or a product containing an aluminum and tantalum electrolytic capacitor between September 1, 1997 and December 31, 2014 or have purchased a film capacitor or a product containing a film capacitor between January 1, 2002 and December 31, 2014.
For more detailed information and to review the long-form notice, please click here.
Foreman & Company is working collaboratively with Camp Fiorante Matthews Mogerman LLP and Belleau Lapointe, s.e.n.c.r.l. on these matters.