Proposed Settlement Reached in Canadian Electrolytic and Film Capacitors Class Actions
Foreman & Company is pleased to announce that national settlements have been reached with the ELNA and Holy Stone groups of defendants in Canadian class actions concerning alleged price-fixing of electrolytic and film capacitors. ELNA and Holy Stone are the fifth and sixth defendants to enter into settlements in the class actions. The class actions continue against the remaining non-settling defendants.
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.
ELNA and Holy Stone have separately agreed to pay CAD $2.475M and CAD $790,000 respectively for the benefit of electrolytic settlement class members and CAD $25,000 and CAD $10,000 respectively for the benefit of film settlement class members. The proposed settlements total a combined CAD $3.3M for the benefit of settlement class members and provide early co-operation, evidence and other assistance to the plaintiffs in pursuing their claims against the non-settling defendants. The settlements must be approved by the courts before they become effective.
“Our team is pleased to have secured another settlement recovery for the classes we represent in this litigation. We are also pleased to have negotiated the right to further evidence and cooperation from the settling defendants to enhance the prosecution of the claims against the remaining defendants.”
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.
